Creative Planning Purchases 4,681 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Creative Planning lifted its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 88.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,948 shares of the company’s stock after purchasing an additional 4,681 shares during the period. Creative Planning’s holdings in PROCEPT BioRobotics were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new position in PROCEPT BioRobotics during the 2nd quarter worth $36,000. Quest Partners LLC increased its stake in PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after acquiring an additional 648 shares during the period. Canada Pension Plan Investment Board bought a new position in PROCEPT BioRobotics during the 2nd quarter worth $128,000. RiverPark Advisors LLC bought a new position in PROCEPT BioRobotics during the 2nd quarter worth $135,000. Finally, nVerses Capital LLC increased its stake in PROCEPT BioRobotics by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $147,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Bank of America raised their price objective on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Finally, TD Cowen lifted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and an average price target of $88.40.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the transaction, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 468,353 shares of company stock valued at $40,196,366 in the last 90 days. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Trading Up 2.5 %

Shares of PRCT opened at $92.29 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.49 and a current ratio of 6.02. PROCEPT BioRobotics Co. has a 52-week low of $27.65 and a 52-week high of $99.34. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -47.33 and a beta of 1.00. The business’s fifty day moving average is $77.65 and its 200-day moving average is $68.35.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $53.30 million. During the same quarter last year, the business posted ($0.51) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 66.4% on a year-over-year basis. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal 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).