Blue Trust Inc. Has $356,000 Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Blue Trust Inc. boosted its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,441 shares of the company’s stock after purchasing an additional 466 shares during the period. Blue Trust Inc.’s holdings in PROCEPT BioRobotics were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Naviter Wealth LLC bought a new position in shares of PROCEPT BioRobotics during the third quarter worth about $233,000. Creative Planning boosted its position in PROCEPT BioRobotics by 88.9% during the 3rd quarter. Creative Planning now owns 9,948 shares of the company’s stock worth $797,000 after acquiring an additional 4,681 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in shares of PROCEPT BioRobotics by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock worth $6,489,000 after acquiring an additional 228 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of PROCEPT BioRobotics by 28.9% in the third quarter. Handelsbanken Fonder AB now owns 15,600 shares of the company’s stock valued at $1,250,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of PROCEPT BioRobotics in the second quarter worth $1,651,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 1.2 %

PROCEPT BioRobotics stock opened at $67.32 on Thursday. The stock has a 50-day simple moving average of $75.71 and a 200 day simple moving average of $66.80. The stock has a market capitalization of $3.46 billion, a P/E ratio of -31.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.49 and a current ratio of 7.51. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, August 1st. The company reported ($0.50) EPS 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 company had revenue of $53.35 million during the quarter, compared to the consensus estimate of $50.10 million. During the same period in the previous year, the company posted ($0.56) EPS. The firm’s revenue for the quarter was up 61.2% compared to the same quarter last year. Analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Piper Sandler reissued an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Bank of America raised their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, TD Cowen upped their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $86.40.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $7,928,880.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares in the company, valued at $24,248,849.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,892 shares of company stock worth $13,946,415 over the last ninety days. 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).