Rhumbline Advisers Has $3.78 Million Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Rhumbline Advisers increased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,872 shares of the company’s stock after purchasing an additional 5,793 shares during the period. Rhumbline Advisers owned approximately 0.12% of PROCEPT BioRobotics worth $3,780,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PRCT. Fairman Group LLC acquired a new position in PROCEPT BioRobotics in the fourth quarter valued at about $84,000. RiverPark Advisors LLC acquired a new position in shares of PROCEPT BioRobotics during the second quarter worth about $135,000. nVerses Capital LLC boosted its position in shares of PROCEPT BioRobotics by 300.0% during the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $147,000 after buying an additional 1,800 shares during the period. Jump Financial LLC acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter worth about $201,000. Finally, Amalgamated Bank boosted its position in shares of PROCEPT BioRobotics by 5.8% during the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock worth $243,000 after buying an additional 316 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on PRCT. Wells Fargo & Company upped their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Bank of America upped their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen upped their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday. Finally, Truist Financial upped their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics has an average rating of “Buy” and an average price target of $78.17.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the sale, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 129,892 shares of company stock valued at $10,071,915 over the last 90 days. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $81.99 on Tuesday. The firm has a market cap of $4.26 billion, a P/E ratio of -38.67 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics Co. has a 1-year low of $24.83 and a 1-year high of $85.81. The business’s 50 day moving average is $69.99 and its 200-day moving average is $61.78.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.02. The company had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.56) earnings per share. Equities research analysts predict that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

PROCEPT BioRobotics 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).