Stifel Financial Corp Trims Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Stifel Financial Corp lowered its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 13.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,632 shares of the company’s stock after selling 898 shares during the quarter. Stifel Financial Corp’s holdings in PROCEPT BioRobotics were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PRCT. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock valued at $606,000 after purchasing an additional 408 shares during the period. nVerses Capital LLC increased its stake in PROCEPT BioRobotics by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $147,000 after buying an additional 1,800 shares in the last quarter. Rhumbline Advisers raised its holdings in PROCEPT BioRobotics by 10.3% during the second quarter. Rhumbline Advisers now owns 61,872 shares of the company’s stock valued at $3,780,000 after acquiring an additional 5,793 shares during the period. Arizona State Retirement System lifted its position in shares of PROCEPT BioRobotics by 2.8% in the second quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after acquiring an additional 350 shares in the last quarter. Finally, Chicago Capital LLC bought a new position in shares of PROCEPT BioRobotics in the second quarter worth about $14,233,000. 89.46% of the stock is currently owned by institutional investors.

Insider Transactions at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the sale, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $6,964,077.12. This trade represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 487,816 shares of company stock worth $44,820,549. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $82.01 on Friday. PROCEPT BioRobotics Co. has a 52 week low of $39.48 and a 52 week high of $103.81. The firm has a market capitalization of $4.28 billion, a P/E ratio of -42.06 and a beta of 0.99. The company has a fifty day simple moving average of $89.16 and a two-hundred day simple moving average of $76.56. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter last year, the firm earned ($0.51) EPS. The firm’s revenue for the quarter was up 66.4% compared to the same quarter last year. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on PRCT shares. Piper Sandler reissued an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.86.

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).