Hennion & Walsh Asset Management Inc. Has $603,000 Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,357 shares of the company’s stock after buying an additional 733 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in PROCEPT BioRobotics were worth $603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCT. Thematics Asset Management acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth about $46,000. Signaturefd LLC increased its stake in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares in the last quarter. IFP Advisors Inc acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $58,000. Arcadia Investment Management Corp MI bought a new position in PROCEPT BioRobotics in the fourth quarter valued at approximately $64,000. Finally, WINTON GROUP Ltd bought a new position in PROCEPT BioRobotics in the fourth quarter valued at approximately $207,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Down 3.3%

NASDAQ:PRCT opened at $62.91 on Friday. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -32.26 and a beta of 1.10. 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 stock’s 50 day moving average price is $55.27 and its two-hundred day moving average price is $68.30.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. The business had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.51) earnings per share. Equities research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRCT has been the topic of several recent research reports. Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Truist Financial dropped their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Morgan Stanley reduced their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Bank of America decreased their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $60.66, for a total value of $1,516,500.00. Following the transaction, the director now directly owns 139,363 shares in the company, valued at $8,453,759.58. The trade was a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,455 shares of company stock worth $3,504,572 over the last 90 days. Company insiders own 6.60% of the company’s stock.

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).