VELA Investment Management LLC Lowers Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

VELA Investment Management LLC lowered its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,616 shares of the company’s stock after selling 871 shares during the period. VELA Investment Management LLC’s holdings in PROCEPT BioRobotics were worth $1,572,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics in the third quarter worth about $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of PROCEPT BioRobotics in the second quarter worth about $36,000. Quest Partners LLC increased its holdings in shares of PROCEPT BioRobotics by 2,492.3% in the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after purchasing an additional 713 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of PROCEPT BioRobotics in the second quarter worth about $128,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PRCT. Bank of America raised their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. TD Cowen raised their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Wells Fargo & Company raised their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus price target of $88.40.

PROCEPT BioRobotics Stock Up 2.5 %

PROCEPT BioRobotics stock traded up $2.29 during trading hours on Friday, hitting $92.29. 1,016,863 shares of the stock traded hands, compared to its average volume of 649,828. The firm’s 50-day moving average price is $77.65 and its two-hundred day moving average price is $68.35. PROCEPT BioRobotics Co. has a one year low of $27.65 and a one year high of $99.34. The company has a market cap of $4.82 billion, a PE ratio of -47.33 and a beta of 1.03. The company has a current ratio of 6.02, a quick ratio of 6.49 and a debt-to-equity ratio of 0.21.

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

Insider Activity

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

PROCEPT BioRobotics Company 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).