Point72 DIFC Ltd Takes $11.89 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Point72 DIFC Ltd bought a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 148,397 shares of the company’s stock, valued at approximately $11,890,000. Point72 DIFC Ltd owned about 0.28% of PROCEPT BioRobotics as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in PROCEPT BioRobotics during the 2nd quarter valued at $36,000. Quest Partners LLC increased its holdings in shares of 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 purchasing an additional 648 shares in the last quarter. Canton Hathaway LLC purchased a new position in shares of PROCEPT BioRobotics in the third quarter worth $66,000. Finally, Nisa Investment Advisors LLC lifted 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 purchasing an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $7,928,880.96. This trade represents a 20.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total value of $2,584,668.60. Following the sale, the chief executive officer now directly owns 179,185 shares in the company, valued at $17,529,668.55. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 552,973 shares of company stock worth $48,976,847 in the last three months. 17.40% of the stock is owned by company insiders.

Analyst Ratings Changes

PRCT has been the subject of several research analyst reports. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Morgan Stanley began coverage on shares of PROCEPT BioRobotics in a report on Monday. They issued an “overweight” rating and a $105.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday. Finally, Truist Financial restated a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Moderate Buy” and a consensus target price of $97.86.

PROCEPT BioRobotics Trading Up 0.4 %

NASDAQ:PRCT opened at $96.48 on Wednesday. PROCEPT BioRobotics Co. has a one year low of $36.52 and a one year high of $103.81. The business has a fifty day moving average price of $84.56 and a 200-day moving average price of $74.17. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -49.48 and a beta of 0.99. 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 announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping 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 firm 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 posted ($0.51) earnings per share. The company’s revenue for the quarter was up 66.4% compared to the same quarter last year. Sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.73 EPS for the current year.

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).