Aquatic Capital Management LLC Purchases New Shares in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Aquatic Capital Management LLC acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,910 shares of the company’s stock, valued at approximately $1,764,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRCT. FMR LLC lifted its position in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after buying an additional 866,328 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after buying an additional 297,075 shares during the period. Alliancebernstein L.P. increased its position in PROCEPT BioRobotics by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after purchasing an additional 218,148 shares during the period. Wellington Management Group LLP raised its stake in PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock worth $120,051,000 after buying an additional 416,819 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of PROCEPT BioRobotics by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company’s stock worth $93,751,000 after acquiring an additional 57,449 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analyst Ratings Changes

PRCT has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial lowered their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Bank of America dropped their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Insiders Place Their Bets

In related news, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 in the last ninety days. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $54.16 on Tuesday. The firm has a market cap of $2.97 billion, a P/E ratio of -27.77 and a beta of 1.09. The company’s 50 day moving average is $57.48 and its 200-day moving average is $73.87. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. The firm had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) earnings per share. Sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

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).