Nisa Investment Advisors LLC Buys 270 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Nisa Investment Advisors LLC lifted its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 32.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100 shares of the company’s stock after purchasing an additional 270 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PROCEPT BioRobotics were worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in PROCEPT BioRobotics by 9.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company’s stock worth $527,000 after buying an additional 723 shares during the last quarter. Sei Investments Co. increased its position in shares of PROCEPT BioRobotics by 189.2% during the fourth quarter. Sei Investments Co. now owns 95,315 shares of the company’s stock valued at $7,675,000 after acquiring an additional 62,359 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PROCEPT BioRobotics by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after acquiring an additional 297,075 shares in the last quarter. GAMMA Investing LLC raised its holdings in PROCEPT BioRobotics by 7,021.1% in the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company’s stock worth $373,000 after acquiring an additional 6,319 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in PROCEPT BioRobotics by 50.7% in the 1st quarter. Bessemer Group Inc. now owns 10,900 shares of the company’s stock valued at $635,000 after acquiring an additional 3,665 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PRCT shares. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They set a “market perform” rating on the stock. Morgan Stanley dropped their price objective on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wall Street Zen lowered PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an “overweight” rating and a $70.00 target price on the stock. Finally, Truist Financial reduced their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average target price of $84.13.

PROCEPT BioRobotics Trading Down 1.0%

Shares of NASDAQ:PRCT opened at $58.35 on Friday. PROCEPT BioRobotics Corporation has a 52-week low of $47.04 and a 52-week high of $103.81. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -34.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. The stock’s 50-day simple moving average is $58.73 and its two-hundred day simple moving average is $62.06.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same period in the previous year, the business posted ($0.51) earnings per share. The firm’s quarterly revenue was up 55.5% compared to the same quarter last year. Analysts expect that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Insider Activity

In other news, Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the sale, the director directly owned 14,363 shares in the company, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $6,271,250. Insiders own 6.60% 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).