Frank Rimerman Advisors LLC Sells 70,000 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Frank Rimerman Advisors LLC decreased its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 36.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,082 shares of the company’s stock after selling 70,000 shares during the quarter. PROCEPT BioRobotics makes up 0.5% of Frank Rimerman Advisors LLC’s holdings, making the stock its 25th biggest position. Frank Rimerman Advisors LLC owned about 0.24% of PROCEPT BioRobotics worth $7,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blair William & Co. IL acquired a new position in shares of PROCEPT BioRobotics in the first quarter valued at approximately $21,240,000. Artisan Partners Limited Partnership acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at $15,533,000. Wellington Management Group LLP increased its position in PROCEPT BioRobotics by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock worth $44,663,000 after buying an additional 260,946 shares during the period. Chicago Capital LLC acquired a new stake in shares of PROCEPT BioRobotics during the second quarter worth $14,233,000. Finally, Federated Hermes Inc. boosted its position in shares of PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after acquiring an additional 162,785 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $7,928,880.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 value of $2,062,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Antal Rohit Desai sold 44,867 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the sale, the director now owns 197,453 shares in the company, valued at approximately $15,817,959.83. The disclosure for this sale can be found here. Insiders have sold a total of 154,892 shares of company stock worth $12,134,665 over the last 90 days. Insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $84.99 on Friday. The company has a 50 day moving average of $71.24 and a 200-day moving average of $62.66. The company has a market cap of $4.37 billion, a PE ratio of -40.09 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.

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

Wall Street Analyst Weigh In

PRCT has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Bank of America raised their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price objective on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Buy” and a consensus price target of $78.17.

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).