IFP Advisors Inc Buys Shares of 722 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 722 shares of the company’s stock, valued at approximately $58,000.

A number of other large investors have also recently modified their holdings of PRCT. Nisa Investment Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares during the period. M&G PLC boosted its holdings in shares of PROCEPT BioRobotics by 2.9% in the third quarter. M&G PLC now owns 143,565 shares of the company’s stock valued at $11,485,000 after purchasing an additional 4,103 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of PROCEPT BioRobotics by 290.2% in the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after purchasing an additional 51,030 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $367,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $842,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $60.58 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock’s fifty day moving average price is $73.40 and its 200 day moving average price is $79.93. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -31.07 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PRCT shares. Jefferies Financial Group started coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Morgan Stanley reduced their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.29.

PROCEPT BioRobotics Company 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).