Neo Ivy Capital Management Invests $228,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Neo Ivy Capital Management bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,838 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds also recently added to or reduced their stakes in PRCT. Federated Hermes Inc. raised its stake in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after acquiring an additional 162,785 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in PROCEPT BioRobotics in the 2nd quarter worth approximately $4,657,000. Penserra Capital Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $2,308,000. Principal Financial Group Inc. boosted its holdings in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after acquiring an additional 51,030 shares during the last quarter. Finally, Chicago Capital LLC boosted its holdings in shares of PROCEPT BioRobotics by 12.7% in the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company’s stock valued at $21,044,000 after acquiring an additional 29,668 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price for the company. Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. TD Cowen boosted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average price target of $97.86.

PROCEPT BioRobotics Trading Down 0.9 %

Shares of NASDAQ:PRCT opened at $89.81 on Friday. The business’s 50 day moving average price is $86.71 and its 200-day moving average price is $75.31. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 1 year low of $39.22 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced 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 business had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same quarter last year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was up 66.4% compared to the same quarter last year. Research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was 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 directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This represents a 20.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now directly owns 52,472 shares in the company, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 512,816 shares of company stock valued at $46,883,299 over the last quarter. 17.40% of the stock is currently owned by insiders.

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).