4,581 Shares in PROCEPT BioRobotics Co. (NASDAQ:PRCT) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,581 shares of the company’s stock, valued at approximately $367,000.

Other institutional investors have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC increased its holdings in shares of PROCEPT BioRobotics by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock valued at $6,489,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics in the third quarter valued at $27,000. Arizona State Retirement System increased its holdings in shares of PROCEPT BioRobotics by 2.8% in the second quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after purchasing an additional 350 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PROCEPT BioRobotics by 4.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock valued at $606,000 after purchasing an additional 408 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of PROCEPT BioRobotics by 11.7% in the third quarter. Blue Trust Inc. now owns 4,441 shares of the company’s stock valued at $356,000 after purchasing an additional 466 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday. They issued a “hold” rating and a $95.00 target price for the company. Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen boosted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Trading Up 3.5 %

Shares of PROCEPT BioRobotics stock opened at $88.94 on Monday. PROCEPT BioRobotics Co. has a 52-week low of $31.57 and a 52-week high of $103.81. The firm has a 50-day moving average of $80.97 and a 200-day moving average of $71.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a market cap of $4.64 billion, a PE ratio of -45.61 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. PROCEPT BioRobotics’s revenue was up 66.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.51) earnings per share. As a group, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Insider Transactions at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $96.60, for a total value of $3,187,800.00. Following the completion of the transaction, the director now owns 231,363 shares of the company’s stock, valued at $22,349,665.80. This represents a 12.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the company’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 value of $26,249,951.00. Following the completion of the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $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 535,353 shares of company stock valued at $46,627,426. 17.40% of the stock is currently owned by insiders.

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).