Essex Investment Management Co. LLC Reduces Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Essex Investment Management Co. LLC cut its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 36.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,725 shares of the company’s stock after selling 29,267 shares during the quarter. Essex Investment Management Co. LLC’s holdings in PROCEPT BioRobotics were worth $4,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PRCT. Naviter Wealth LLC boosted its position in PROCEPT BioRobotics by 6.0% in the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock worth $249,000 after purchasing an additional 176 shares during the last quarter. Amundi boosted its position in PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after purchasing an additional 183 shares during the last quarter. Arizona State Retirement System boosted its position in PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock worth $1,150,000 after purchasing an additional 218 shares during the last quarter. KRS Capital Management LLC boosted its position in PROCEPT BioRobotics by 0.5% in the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock worth $3,741,000 after purchasing an additional 225 shares during the last quarter. Finally, KBC Group NV boosted its position 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. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $59.33 on Friday. 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 Co. has a 1 year low of $45.56 and a 1 year high of $103.81. The stock’s 50 day simple moving average is $72.49 and its two-hundred day simple moving average is $79.75. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -30.43 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PRCT shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.29.

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).