Hennion & Walsh Asset Management Inc. Raises Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Hennion & Walsh Asset Management Inc. grew its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 62.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,624 shares of the company’s stock after buying an additional 3,702 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in PROCEPT BioRobotics were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PRCT. Essex Investment Management Co. LLC lifted its stake in PROCEPT BioRobotics by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock valued at $6,489,000 after acquiring an additional 228 shares during the period. Values First Advisors Inc. bought a new position in PROCEPT BioRobotics during the third quarter valued at approximately $27,000. KBC Group NV boosted its holdings in PROCEPT BioRobotics by 32.6% in the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after purchasing an additional 376 shares during the last quarter. Blue Trust Inc. grew its position in PROCEPT BioRobotics by 11.7% in the 3rd quarter. Blue Trust Inc. now owns 4,441 shares of the company’s stock worth $356,000 after purchasing an additional 466 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on PRCT shares. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. 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, Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.86.

Insider Transactions at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares in the company, valued at approximately $23,518,495. The trade was a 52.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 462,816 shares of company stock valued at $43,008,799 over the last 90 days. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $76.02 on Monday. The company has a market capitalization of $3.97 billion, a P/E ratio of -38.98 and a beta of 1.05. PROCEPT BioRobotics Co. has a 1-year low of $44.02 and a 1-year high of $103.81. The firm’s 50 day simple moving average is $88.52 and its two-hundred day simple moving average is $79.09. 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 for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter in the previous year, the company earned ($0.51) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 66.4% on a year-over-year basis. Research analysts expect that PROCEPT BioRobotics Co. will post -1.75 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).