PROCEPT BioRobotics Co. (NASDAQ:PRCT) Holdings Raised by Sit Investment Associates Inc.

Sit Investment Associates Inc. boosted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 42.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,835 shares of the company’s stock after buying an additional 3,835 shares during the period. Sit Investment Associates Inc.’s holdings in PROCEPT BioRobotics were worth $1,033,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PRCT. Raleigh Capital Management Inc. bought a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $32,000. Signaturefd LLC lifted its position in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the period. IFP Advisors Inc bought a new position in PROCEPT BioRobotics during the 4th quarter valued at $58,000. Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $64,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth $64,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PRCT. Morgan Stanley dropped their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.29.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $51.23 on Monday. PROCEPT BioRobotics Co. has a one year low of $46.99 and a one year high of $103.81. The company has a 50-day moving average of $63.77 and a two-hundred day moving average of $76.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -26.27 and a beta of 1.09.

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

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).