Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,397 shares of the company’s stock after purchasing an additional 676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PROCEPT BioRobotics were worth $394,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. VELA Investment Management LLC lifted its holdings in shares of PROCEPT BioRobotics by 15.5% during the fourth quarter. VELA Investment Management LLC now owns 20,487 shares of the company’s stock worth $859,000 after purchasing an additional 2,757 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of PROCEPT BioRobotics by 0.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 502,603 shares of the company’s stock valued at $21,064,000 after acquiring an additional 4,154 shares during the last quarter. Arizona State Retirement System increased its stake in shares of PROCEPT BioRobotics by 14.7% in the fourth quarter. Arizona State Retirement System now owns 12,504 shares of the company’s stock worth $524,000 after acquiring an additional 1,602 shares during the period. Ballentine Partners LLC acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth $5,574,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter worth $138,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial lifted their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $49.50.

Insider Transactions at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 30,432 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $62.97, for a total value of $1,916,303.04. Following the transaction, the executive vice president now directly owns 62,472 shares of the company’s stock, valued at approximately $3,933,861.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alaleh Nouri sold 30,432 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the completion of the sale, the executive vice president now directly owns 62,472 shares in the company, valued at $3,933,861.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 5,391 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $48.83, for a total value of $263,242.53. Following the completion of the transaction, the chief executive officer now owns 241,319 shares in the company, valued at approximately $11,783,606.77. The disclosure for this sale can be found here. Insiders sold 124,581 shares of company stock valued at $6,570,023 over the last 90 days. Corporate insiders own 19.60% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock opened at $64.31 on Friday. The firm has a market cap of $3.31 billion, a PE ratio of -30.33 and a beta of 0.95. PROCEPT BioRobotics Co. has a twelve month low of $24.83 and a twelve month high of $64.89. The company has a quick ratio of 6.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $50.25 and a 200 day moving average price of $43.61.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. The firm had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 42.13%. The firm’s revenue for the quarter was up 82.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) EPS. Sell-side analysts predict that PROCEPT BioRobotics Co. will post -2 earnings per share 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).