Frontier Capital Management Co. LLC Acquires New Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Frontier Capital Management Co. LLC bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 225,352 shares of the company’s stock, valued at approximately $18,145,000. Frontier Capital Management Co. LLC owned approximately 0.43% of PROCEPT BioRobotics at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $32,000. Thematics Asset Management acquired a new position in PROCEPT BioRobotics in the fourth quarter valued at about $46,000. Signaturefd LLC grew its holdings in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after acquiring an additional 145 shares during the last quarter. IFP Advisors Inc bought a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at about $58,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth $64,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Truist Financial reduced their price objective 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. Bank of America decreased their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.00.

Insiders Place Their Bets

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

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $54.80 on Friday. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.03 billion, a PE ratio of -28.10 and a beta of 1.10. The company’s fifty day moving average price is $55.90 and its 200-day moving average price is $72.92.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. During the same quarter last year, the company earned ($0.51) earnings per share. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal 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).