FORA Capital LLC Sells 174 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

FORA Capital LLC decreased its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,929 shares of the company’s stock after selling 174 shares during the period. FORA Capital LLC’s holdings in PROCEPT BioRobotics were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canton Hathaway LLC bought a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at $66,000. Westfield Capital Management Co. LP acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth $72,563,000. Penserra Capital Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth $2,308,000. Algert Global LLC raised its stake in PROCEPT BioRobotics by 41.4% during the 3rd quarter. Algert Global LLC now owns 38,217 shares of the company’s stock worth $3,062,000 after buying an additional 11,190 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in PROCEPT BioRobotics by 13.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company’s stock worth $32,254,000 after buying an additional 46,665 shares during the period. Institutional investors own 89.46% of the company’s stock.

Insider Activity

In other news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the transaction, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 561,773 shares of company stock worth $49,073,125 in the last quarter. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

PRCT opened at $97.29 on Thursday. The business’s 50-day moving average price is $83.12 and its two-hundred day moving average price is $73.12. PROCEPT BioRobotics Co. has a 1 year low of $33.45 and a 1 year high of $103.81. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of -49.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) EPS. Equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PRCT has been the topic of several research analyst reports. TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).