Spire Wealth Management Decreases Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Spire Wealth Management decreased its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500 shares of the company’s stock after selling 200 shares during the quarter. Spire Wealth Management’s holdings in PROCEPT BioRobotics were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PRCT. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics in the 4th quarter worth about $32,000. Wilmington Savings Fund Society FSB purchased a new position in PROCEPT BioRobotics in the 3rd quarter worth about $64,000. Canton Hathaway LLC purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $66,000. Finally, Nisa Investment Advisors LLC increased its position in shares of 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 purchasing an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Morgan Stanley began coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price on the stock. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.86.

PROCEPT BioRobotics Trading Down 1.7 %

PROCEPT BioRobotics stock opened at $69.56 on Monday. The stock has a 50-day moving average price of $81.84 and a 200 day moving average price of $79.59. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -35.67 and a beta of 1.03. PROCEPT BioRobotics Co. has a 52 week low of $45.20 and a 52 week high of $103.81.

Insider Activity at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the sale, the executive vice president now directly owns 52,472 shares in the company, valued at approximately $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total value of $2,445,699.40. Following the transaction, the chief executive officer now directly owns 205,605 shares in the company, valued at $19,032,854.85. This trade represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,355 shares of company stock worth $10,327,788. 17.40% of the stock is owned by corporate 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).