Wilmington Savings Fund Society FSB Invests $64,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Wilmington Savings Fund Society FSB purchased a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 794 shares of the company’s stock, valued at approximately $64,000.

Other hedge funds have also modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics in the second quarter valued at about $36,000. Quest Partners LLC boosted its stake 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 worth $41,000 after acquiring an additional 648 shares during the period. Canton Hathaway LLC purchased a new stake in shares of PROCEPT BioRobotics during the third quarter worth about $66,000. Finally, Nisa Investment Advisors LLC lifted its holdings in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after purchasing an additional 713 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Trading Up 0.5 %

Shares of PRCT stock opened at $81.17 on Friday. The company has a market cap of $4.24 billion, a PE ratio of -41.63 and a beta of 0.99. PROCEPT BioRobotics Co. has a 1 year low of $39.48 and a 1 year high of $103.81. The stock’s 50 day simple moving average is $88.25 and its two-hundred day simple moving average is $76.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The firm had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business’s revenue was up 66.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) EPS. Research analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRCT has been the topic of several recent analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and an average price target of $97.86.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares in the company, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $6,964,077.12. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 487,816 shares of company stock valued at $44,820,549 in the last quarter. 17.40% of the stock is owned by insiders.

About PROCEPT BioRobotics

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).