SpiderRock Advisors LLC Takes $307,000 Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

SpiderRock Advisors LLC bought a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,309 shares of the company’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amalgamated Bank raised its holdings in PROCEPT BioRobotics by 5.8% during the fourth quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock worth $243,000 after purchasing an additional 316 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PROCEPT BioRobotics by 5.7% during the fourth quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock worth $444,000 after purchasing an additional 568 shares in the last quarter. Blue Trust Inc. raised its holdings in PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PROCEPT BioRobotics by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,397 shares of the company’s stock worth $394,000 after purchasing an additional 676 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in PROCEPT BioRobotics by 10.3% during the fourth quarter. Diversified Trust Co now owns 10,717 shares of the company’s stock worth $449,000 after purchasing an additional 1,004 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Piper Sandler increased their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Truist Financial increased their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $61.20.

PROCEPT BioRobotics Price Performance

Shares of PRCT traded up $1.26 during mid-day trading on Friday, reaching $64.88. The company had a trading volume of 109,205 shares, compared to its average volume of 550,688. The firm has a fifty day simple moving average of $63.45 and a 200-day simple moving average of $53.06. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $77.00. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. During the same quarter last year, the business earned ($0.63) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 82.4% on a year-over-year basis. Equities analysts expect that PROCEPT BioRobotics Co. will post -1.93 earnings per share for the current year.

Insider Activity

In other news, Director Thomas M. Krummel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. Following the transaction, the director now owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Thomas M. Krummel sold 20,000 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the sale, the director now owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alaleh Nouri sold 10,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, June 17th. The stock was sold at an average price of $62.18, for a total transaction of $621,800.00. Following the sale, the executive vice president now directly owns 52,472 shares in the company, valued at approximately $3,262,708.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,478 shares of company stock valued at $5,515,482. 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).