Creative Planning Makes New $322,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Creative Planning purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,267 shares of the company’s stock, valued at approximately $322,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of PROCEPT BioRobotics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after acquiring an additional 62,164 shares during the period. Wellington Management Group LLP increased its position in shares of PROCEPT BioRobotics by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after acquiring an additional 260,946 shares during the period. Bellevue Group AG increased its position in shares of PROCEPT BioRobotics by 0.5% in the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after acquiring an additional 4,768 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PROCEPT BioRobotics by 8.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after acquiring an additional 51,305 shares during the period. Finally, Blair William & Co. IL acquired a new position in shares of PROCEPT BioRobotics in the 1st quarter valued at $21,240,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PRCT shares. Bank of America increased their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, TD Cowen increased their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $86.40.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Antal Rohit Desai sold 44,867 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $80.11, for a total transaction of $3,594,295.37. Following the completion of the transaction, the director now directly owns 197,453 shares of the company’s stock, valued at $15,817,959.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,892 shares of company stock worth $13,946,415. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Down 4.7 %

Shares of NASDAQ PRCT opened at $69.08 on Friday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -32.58 and a beta of 1.03. The company has a quick ratio of 6.49, a current ratio of 7.51 and a debt-to-equity ratio of 0.20. PROCEPT BioRobotics Co. has a 52-week low of $24.83 and a 52-week high of $85.81. The business’s 50 day moving average is $75.33 and its two-hundred day moving average is $66.06.

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