Nicholas Investment Partners LP Acquires New Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Nicholas Investment Partners LP purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 76,232 shares of the company’s stock, valued at approximately $4,657,000. Nicholas Investment Partners LP owned about 0.15% of PROCEPT BioRobotics as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its holdings 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 purchasing an additional 648 shares during the last quarter. Chicago Capital LLC bought a new position in PROCEPT BioRobotics during the 2nd quarter worth approximately $14,233,000. Arizona State Retirement System raised its holdings in PROCEPT BioRobotics by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock worth $784,000 after purchasing an additional 350 shares during the last quarter. Rhumbline Advisers raised its holdings in PROCEPT BioRobotics by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 61,872 shares of the company’s stock worth $3,780,000 after purchasing an additional 5,793 shares during the last quarter. Finally, nVerses Capital LLC raised its holdings 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 purchasing an additional 1,800 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial raised their price target on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised their price objective 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, Bank of America raised their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $74.17.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, June 17th. The shares were sold at an average price of $62.18, for a total transaction of $621,800.00. Following the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, June 17th. The shares were sold at an average price of $62.18, for a total transaction of $621,800.00. Following the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 58,525 shares of company stock valued at $4,318,849 in the last three months. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $78.11 on Thursday. The company has a fifty day simple moving average of $68.68 and a 200 day simple moving average of $60.91. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $85.81. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.02 billion, a P/E ratio of -36.91 and a beta of 1.03.

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

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).