Transatlantique Private Wealth LLC Buys Shares of 150,000 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Transatlantique Private Wealth LLC purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 150,000 shares of the company’s stock, valued at approximately $9,164,000. PROCEPT BioRobotics comprises 3.7% of Transatlantique Private Wealth LLC’s investment portfolio, making the stock its 3rd largest holding. Transatlantique Private Wealth LLC owned 0.29% of PROCEPT BioRobotics at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PRCT. Sei Investments Co. raised its stake in PROCEPT BioRobotics by 58.7% in the 2nd 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 during the period. Canada Pension Plan Investment Board purchased a new position in shares of PROCEPT BioRobotics in the second quarter worth about $128,000. Public Employees Retirement Association of Colorado bought a new stake in shares of PROCEPT BioRobotics in the second quarter valued at approximately $303,000. XTX Topco Ltd bought a new stake in shares of PROCEPT BioRobotics in the second quarter valued at approximately $215,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at approximately $36,000. Institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRCT. Truist Financial increased their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. TD Cowen increased their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Bank of America lifted their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $78.17.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $84.99 on Friday. The business has a 50-day simple moving average of $71.24 and a 200 day simple moving average of $62.55. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $85.81. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -40.09 and a beta of 1.03. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20.

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at $7,928,880.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $80.11, for a total value of $3,594,295.37. Following the sale, the director now owns 197,453 shares of the company’s stock, valued at approximately $15,817,959.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00. Following the transaction, the chief financial officer now owns 96,096 shares in the company, valued at approximately $7,928,880.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,892 shares of company stock valued at $12,134,665. Corporate insiders own 17.40% 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).