Quantbot Technologies LP Has $1.54 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Quantbot Technologies LP reduced its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 37.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 19,277 shares of the company’s stock after selling 11,612 shares during the quarter. Quantbot Technologies LP’s holdings in PROCEPT BioRobotics were worth $1,544,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics in the second quarter valued at about $36,000. Quest Partners LLC grew its position in shares of 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 purchasing an additional 648 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of PROCEPT BioRobotics in the third quarter valued at about $66,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of 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 during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $95.59 on Friday. PROCEPT BioRobotics Co. has a 1 year low of $36.15 and a 1 year high of $103.81. The firm has a 50 day moving average of $83.90 and a 200-day moving average of $73.68. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.99 billion, a P/E ratio of -49.02 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (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 company had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 66.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRCT. Wells Fargo & Company increased their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen increased their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price for the company. Finally, Truist Financial restated a “buy” rating and set a $105.00 price target (up previously 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 five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity

In related news, Director Antal Rohit Desai sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $96.60, for a total value of $3,187,800.00. Following the completion of the sale, the director now owns 231,363 shares of the company’s stock, valued at $22,349,665.80. This trade represents a 12.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 directly owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,773 shares of company stock worth $49,073,125. Insiders own 17.40% of the company’s stock.

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).