Westfield Capital Management Co. LP Invests $72.56 Million in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 905,681 shares of the company’s stock, valued at approximately $72,563,000. Westfield Capital Management Co. LP owned approximately 1.74% of PROCEPT BioRobotics as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in PROCEPT BioRobotics in the second quarter valued at $36,000. Quest Partners LLC increased its holdings in PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after buying an additional 648 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in PROCEPT BioRobotics during the 3rd quarter worth about $120,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. This represents a 52.74 % 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. Also, Director Antal Rohit Desai sold 13,305 shares of the 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 sale, the director now directly owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,773 shares of company stock valued at $49,073,125. 17.40% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Down 0.9 %

PRCT stock opened at $93.60 on Friday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of -48.00 and a beta of 1.01. The company has a fifty day moving average price of $82.41 and a 200 day moving average price of $72.46. 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 Co. has a 12 month low of $33.45 and a 12 month high of $103.81.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Wells Fargo & Company upped their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen lifted their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Bank of America upped their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and a consensus price target 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).