Westfield Capital Management Co. LP Takes Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Westfield Capital Management Co. LP acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 905,681 shares of the company’s stock, valued at approximately $72,563,000.

Other large investors have also recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $2,308,000. Algert Global LLC boosted its holdings in PROCEPT BioRobotics by 41.4% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in PROCEPT BioRobotics by 13.1% during the third 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. Intech Investment Management LLC purchased a new position in PROCEPT BioRobotics in the third quarter valued at about $979,000. Finally, Advisors Asset Management Inc. lifted its position in shares of PROCEPT BioRobotics by 28.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,350 shares of the company’s stock valued at $989,000 after acquiring an additional 2,758 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PRCT shares. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.50.

Insiders Place Their Bets

In other news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 20.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the completion of the sale, the chief executive officer now owns 205,605 shares of the company’s stock, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 561,773 shares of company stock valued at $49,073,125. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Down 0.9 %

PRCT opened at $93.60 on Friday. The business’s fifty day simple moving average is $82.41 and its 200 day simple moving average is $72.46. PROCEPT BioRobotics Co. has a 52 week low of $33.45 and a 52 week high of $103.81. The firm has a market cap of $4.88 billion, a P/E ratio of -48.00 and a beta of 1.01. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

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

PROCEPT BioRobotics Profile

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).