Main Management ETF Advisors LLC Lowers Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Main Management ETF Advisors LLC cut its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,104 shares of the company’s stock after selling 1,088 shares during the period. Main Management ETF Advisors LLC’s holdings in PROCEPT BioRobotics were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRCT. Perpetual Ltd acquired a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $66,972,000. Oak Ridge Investments LLC boosted its position in PROCEPT BioRobotics by 24.0% in the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock valued at $2,420,000 after buying an additional 5,817 shares during the period. SG Americas Securities LLC grew its stake in shares of PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock worth $531,000 after acquiring an additional 4,931 shares in the last quarter. Chicago Capital LLC increased its position in shares of PROCEPT BioRobotics by 44.5% during the fourth quarter. Chicago Capital LLC now owns 379,582 shares of the company’s stock worth $30,564,000 after acquiring an additional 116,931 shares during the period. Finally, Matisse Capital increased its position in shares of PROCEPT BioRobotics by 112.9% during the fourth quarter. Matisse Capital now owns 22,285 shares of the company’s stock worth $1,794,000 after acquiring an additional 11,817 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Down 2.6%

Shares of NASDAQ PRCT opened at $53.04 on Wednesday. The business has a 50-day moving average of $55.33 and a two-hundred day moving average of $72.66. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -27.20 and a beta of 1.10. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on PRCT. Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a report on Friday, April 25th. 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 research note on Wednesday, February 26th. Finally, Truist Financial cut their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction 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 sale, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,455 shares of company stock valued at $368,322. 6.60% of the stock is owned by corporate insiders.

About PROCEPT BioRobotics

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).