Thurston Springer Miller Herd & Titak Inc. Makes New Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,625 shares of the company’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors have also modified their holdings of PRCT. Lord Abbett & CO. LLC lifted its holdings in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after acquiring an additional 233,430 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $2,308,000. Principal Financial Group Inc. lifted its holdings in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after purchasing an additional 51,030 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in PROCEPT BioRobotics during the 3rd quarter valued at approximately $1,158,000. Finally, Y Intercept Hong Kong Ltd bought a new position in PROCEPT BioRobotics during the 3rd quarter worth $1,081,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $78.31 on Thursday. PROCEPT BioRobotics Co. has a 12 month low of $44.02 and a 12 month high of $103.81. The firm has a market capitalization of $4.09 billion, a PE ratio of -40.16 and a beta of 1.05. The company’s 50 day simple moving average is $89.33 and its 200 day simple moving average is $78.78. 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 posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the business earned ($0.51) EPS. The company’s quarterly revenue was up 66.4% compared to the same quarter last year. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antal Rohit Desai sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $96.60, for a total transaction of $3,187,800.00. Following the sale, the director now owns 231,363 shares of the company’s stock, valued at $22,349,665.80. The trade was a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 462,816 shares of company stock valued at $43,008,799. 17.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRCT shares. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Truist Financial restated a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, Morgan Stanley initiated coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average target price of $97.86.

PROCEPT BioRobotics Company 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).