KBC Group NV Boosts Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

KBC Group NV boosted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 32.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,531 shares of the company’s stock after buying an additional 376 shares during the quarter. KBC Group NV’s holdings in PROCEPT BioRobotics were worth $123,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PRCT. Oppenheimer & Co. Inc. purchased a new position in PROCEPT BioRobotics during the third quarter valued at approximately $842,000. Los Angeles Capital Management LLC purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $367,000. Principal Financial Group Inc. boosted its holdings in PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after buying an additional 51,030 shares during the period. M&G PLC increased its stake in PROCEPT BioRobotics by 2.9% in the 3rd quarter. M&G PLC now owns 143,565 shares of the company’s stock worth $11,485,000 after buying an additional 4,103 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth $120,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Up 1.9 %

PRCT opened at $94.45 on Friday. 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’s 50 day moving average price is $81.88 and its 200-day moving average price is $72.08. PROCEPT BioRobotics Co. has a one year low of $33.45 and a one year high of $103.81. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of -48.89 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned ($0.51) earnings per share. On average, equities analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the firm’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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antal Rohit Desai sold 34,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total value of $3,243,260.00. Following the sale, the director now owns 164,363 shares of the company’s stock, valued at approximately $15,678,586.57. This represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 535,353 shares of company stock valued at $46,627,426. 17.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRCT has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company upped their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Finally, Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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).