AlphaCentric Advisors LLC Decreases Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

AlphaCentric Advisors LLC lowered its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,000 shares of the company’s stock after selling 2,000 shares during the period. AlphaCentric Advisors LLC’s holdings in PROCEPT BioRobotics were worth $641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in shares of PROCEPT BioRobotics in the third quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $36,000. Quest Partners LLC lifted its holdings in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after acquiring an additional 713 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in PROCEPT BioRobotics in the second quarter worth $128,000. 89.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.40.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $97.07 on Tuesday. PROCEPT BioRobotics Co. has a 12 month low of $29.71 and a 12 month high of $99.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business’s fifty day simple moving average is $78.03 and its two-hundred day simple moving average is $68.91.

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

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was 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 in the company, valued at $24,248,849.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 468,353 shares of company stock valued at $40,196,366. 17.40% of the stock is owned by corporate insiders.

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).