Sei Investments Co. Grows Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Sei Investments Co. increased its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 189.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,315 shares of the company’s stock after purchasing an additional 62,359 shares during the period. Sei Investments Co. owned 0.18% of PROCEPT BioRobotics worth $7,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRCT. Quantbot Technologies LP lifted its holdings in shares of PROCEPT BioRobotics by 102.4% in the fourth quarter. Quantbot Technologies LP now owns 39,019 shares of the company’s stock worth $3,142,000 after buying an additional 19,742 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in PROCEPT BioRobotics in the 4th quarter worth $768,000. Xponance Inc. boosted its holdings in shares of PROCEPT BioRobotics by 14.2% during the 4th quarter. Xponance Inc. now owns 3,162 shares of the company’s stock valued at $255,000 after purchasing an additional 394 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of PROCEPT BioRobotics by 12.6% during the fourth quarter. William Blair Investment Management LLC now owns 239,285 shares of the company’s stock valued at $19,267,000 after purchasing an additional 26,783 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth about $388,000. 89.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRCT shares. Truist Financial reissued a “buy” rating and set a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Wells Fargo & Company restated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Morgan Stanley lowered their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.29.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 in the last quarter. 17.40% of the stock is owned by company insiders.

PROCEPT BioRobotics Trading Down 2.8 %

PRCT stock opened at $60.05 on Monday. The firm’s fifty day simple moving average is $65.34 and its two-hundred day simple moving average is $77.82. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -30.79 and a beta of 1.05. 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 Co. has a twelve month low of $45.56 and a twelve month high of $103.81.

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

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).