PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 240.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,847 shares of the company’s stock after acquiring an additional 203,241 shares during the quarter. Millennium Management LLC’s holdings in PROCEPT BioRobotics were worth $23,177,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $32,000. Thematics Asset Management acquired a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Signaturefd LLC increased its holdings in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after buying an additional 145 shares during the period. IFP Advisors Inc acquired a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $58,000. Finally, Arcadia Investment Management Corp MI acquired a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $59.18 on Wednesday. The company’s fifty day moving average price is $55.32 and its 200 day moving average price is $71.46. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81. The stock has a market capitalization of $3.27 billion, a P/E ratio of -30.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. As a group, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRCT. Morgan Stanley dropped their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Bank of America dropped their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This trade represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,455 shares of company stock worth $368,322. Corporate insiders own 17.40% of the company’s stock.

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).