KRS Capital Management LLC Boosts Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

KRS Capital Management LLC grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,455 shares of the company’s stock after acquiring an additional 225 shares during the period. PROCEPT BioRobotics makes up approximately 2.6% of KRS Capital Management LLC’s portfolio, making the stock its 6th largest holding. KRS Capital Management LLC’s holdings in PROCEPT BioRobotics were worth $3,741,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in PROCEPT BioRobotics in the second quarter worth $2,808,000. XTX Topco Ltd acquired a new position in PROCEPT BioRobotics in the 2nd quarter worth approximately $215,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $303,000. Canada Pension Plan Investment Board purchased a new position in PROCEPT BioRobotics in the 2nd quarter valued at $128,000. Finally, Sei Investments Co. increased its stake in shares of PROCEPT BioRobotics by 58.7% in the 2nd quarter. Sei Investments Co. now owns 36,136 shares of the company’s stock worth $2,208,000 after acquiring an additional 13,359 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Down 3.6 %

Shares of PRCT stock traded down $2.82 during mid-day trading on Friday, hitting $76.02. The company’s stock had a trading volume of 984,047 shares, compared to its average volume of 463,532. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company’s fifty day simple moving average is $88.52 and its 200-day simple moving average is $78.88. The company has a market cap of $3.97 billion, a PE ratio of -38.98 and a beta of 1.05. PROCEPT BioRobotics Co. has a 52 week low of $44.02 and a 52 week 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, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. As a group, equities research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley began coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 target price for the company. 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. Truist Financial restated a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.86.

Insider Activity

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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. This represents a 52.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 462,816 shares of company stock worth $43,008,799 over the last 90 days. 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).