Robocap Asset Management Ltd Sells 2,511 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Robocap Asset Management Ltd decreased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,071 shares of the company’s stock after selling 2,511 shares during the quarter. PROCEPT BioRobotics makes up 4.9% of Robocap Asset Management Ltd’s investment portfolio, making the stock its 10th biggest holding. Robocap Asset Management Ltd owned approximately 0.17% of PROCEPT BioRobotics worth $7,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PRCT. Westfield Capital Management Co. LP purchased a new position in shares of PROCEPT BioRobotics during the third quarter worth about $72,563,000. Perpetual Ltd purchased a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $66,972,000. Franklin Resources Inc. increased its position in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after buying an additional 347,330 shares during the period. Lord Abbett & CO. LLC lifted its stake in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after buying an additional 233,430 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $11,890,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, December 4th. The stock was 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 in the company, valued at $5,096,605.36. The trade was a 34.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following the sale, the chief executive officer now directly owns 179,185 shares of the company’s stock, valued at approximately $17,529,668.55. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,355 shares of company stock worth $10,327,788. 17.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

PROCEPT BioRobotics Trading Down 1.7 %

Shares of PRCT opened at $69.56 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 $45.20 and a 1 year high of $103.81. The firm has a fifty day moving average of $82.36 and a 200-day moving average of $79.43.

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).