Renaissance Technologies LLC Purchases Shares of 45,966 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Renaissance Technologies LLC purchased a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 45,966 shares of the company’s stock, valued at approximately $2,808,000.

Several other institutional investors have also added to or reduced their stakes in PRCT. Principal Financial Group Inc. boosted its position in PROCEPT BioRobotics by 5.7% during the 4th quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock valued at $444,000 after buying an additional 568 shares during the period. Hsbc Holdings PLC boosted its position in PROCEPT BioRobotics by 31.2% during the 4th quarter. Hsbc Holdings PLC now owns 106,870 shares of the company’s stock valued at $4,479,000 after buying an additional 25,440 shares during the period. Allianz Asset Management GmbH boosted its position in PROCEPT BioRobotics by 42.9% during the 4th quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock valued at $4,050,000 after buying an additional 28,999 shares during the period. PEAK6 Investments LLC boosted its position in PROCEPT BioRobotics by 163.1% during the 4th quarter. PEAK6 Investments LLC now owns 45,901 shares of the company’s stock valued at $1,924,000 after buying an additional 28,453 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth about $550,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the sale, the director now directly owns 197,453 shares in the company, valued at approximately $15,817,959.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $7,928,880.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Antal Rohit Desai sold 44,867 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the sale, the director now owns 197,453 shares of the company’s stock, valued at $15,817,959.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,892 shares of company stock worth $12,134,665. 17.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on PRCT shares. Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Truist Financial raised their target price on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen raised their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus price target of $78.17.

PROCEPT BioRobotics Trading Up 0.7 %

Shares of NASDAQ PRCT opened at $80.12 on Tuesday. PROCEPT BioRobotics Co. has a 1 year low of $24.83 and a 1 year high of $85.81. The stock has a market cap of $4.12 billion, a P/E ratio of -37.79 and a beta of 1.03. The firm has a 50-day moving average of $72.35 and a 200 day moving average of $63.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company had revenue of $53.35 million during the quarter, compared to analysts’ expectations of $50.10 million. During the same period last year, the company posted ($0.56) EPS. PROCEPT BioRobotics’s revenue was up 61.2% on a year-over-year basis. As a group, sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.88 EPS for the current fiscal year.

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).