Driehaus Capital Management LLC Purchases 71,930 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Driehaus Capital Management LLC raised its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 25.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,394 shares of the company’s stock after buying an additional 71,930 shares during the quarter. Driehaus Capital Management LLC owned about 0.68% of PROCEPT BioRobotics worth $21,344,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $36,000. Quest Partners LLC boosted its stake in shares of PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after purchasing an additional 648 shares in the last quarter. Fairman Group LLC acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at approximately $84,000. Canada Pension Plan Investment Board acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $128,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $135,000. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America raised their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, TD Cowen lifted their target price 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. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus target price of $78.17.

PROCEPT BioRobotics Stock Up 0.3 %

NASDAQ:PRCT opened at $79.53 on Friday. The company has a market cap of $4.13 billion, a PE ratio of -37.51 and a beta of 1.03. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $85.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. The firm’s 50 day simple moving average is $72.35 and its 200 day simple moving average is $63.64.

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

Insider Transactions at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the transaction, the director now owns 23,963 shares in the company, valued at approximately $1,824,063.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares in the company, valued at approximately $7,928,880.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Antal Rohit Desai sold 35,220 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the completion of the sale, the director now owns 23,963 shares of the company’s stock, valued at approximately $1,824,063.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,892 shares of company stock worth $12,134,665. Company insiders own 17.40% of the company’s stock.

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).