Oak Ridge Investments LLC Purchases 5,817 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Oak Ridge Investments LLC boosted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,059 shares of the company’s stock after acquiring an additional 5,817 shares during the period. Oak Ridge Investments LLC’s holdings in PROCEPT BioRobotics were worth $2,420,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PRCT. Renaissance Technologies LLC purchased a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $2,808,000. XTX Topco Ltd purchased a new position in shares of PROCEPT BioRobotics during the second quarter valued at approximately $215,000. Public Employees Retirement Association of Colorado bought a new position in shares of PROCEPT BioRobotics during the second quarter valued at approximately $303,000. Canada Pension Plan Investment Board purchased a new stake in PROCEPT BioRobotics in the second quarter worth $128,000. Finally, Sei Investments Co. boosted its holdings in PROCEPT BioRobotics by 58.7% in the second quarter. Sei Investments Co. now owns 36,136 shares of the company’s stock valued at $2,208,000 after acquiring an additional 13,359 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 3.6 %

PROCEPT BioRobotics stock opened at $76.02 on Friday. PROCEPT BioRobotics Co. has a 12 month low of $44.02 and a 12 month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $88.52 and its two-hundred day simple moving average is $78.99. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -38.98 and a beta of 1.05.

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, 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%. The business’s revenue for the quarter was up 66.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.51) earnings per share. As a group, equities analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 26,423 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the transaction, the chief executive officer now owns 152,762 shares in the company, valued at $14,851,521.64. This represents a 14.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics 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 of the company’s stock, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 462,816 shares of company stock valued at $43,008,799. Corporate insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PRCT shares. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Morgan Stanley began coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and a consensus target price of $97.86.

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).