VELA Investment Management LLC Has $1.57 Million Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

VELA Investment Management LLC reduced its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,616 shares of the company’s stock after selling 871 shares during the quarter. VELA Investment Management LLC’s holdings in PROCEPT BioRobotics were worth $1,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Americana Partners LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $1,494,000. Oak Ridge Investments LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $1,942,000. Nisa Investment Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at $27,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of PROCEPT BioRobotics by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,922 shares of the company’s stock valued at $474,000 after purchasing an additional 1,273 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the stock in a transaction 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 sale, the chief executive officer now owns 258,445 shares in the company, valued at approximately $23,518,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the chief financial officer now owns 96,096 shares in the company, valued at approximately $6,964,077.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the sale, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 468,353 shares of company stock valued at $40,196,366 over the last three months. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Up 2.5 %

Shares of PROCEPT BioRobotics stock traded up $2.29 during trading hours on Friday, reaching $92.29. The company’s stock had a trading volume of 1,016,863 shares, compared to its average volume of 649,828. PROCEPT BioRobotics Co. has a one year low of $27.65 and a one year high of $99.34. The company has a market capitalization of $4.82 billion, a P/E ratio of -47.33 and a beta of 1.03. The stock’s fifty day simple moving average is $77.65 and its two-hundred day simple moving average is $68.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.49 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for 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 business’s quarterly revenue was up 66.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.51) earnings per share. On average, research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.40.

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).