SpiderRock Advisors LLC Purchases Shares of 6,309 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

SpiderRock Advisors LLC purchased a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,309 shares of the company’s stock, valued at approximately $307,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank increased its holdings in PROCEPT BioRobotics by 5.8% in the 4th quarter. Amalgamated Bank now owns 5,804 shares of the company’s stock valued at $243,000 after buying an additional 316 shares during the period. Principal Financial Group Inc. grew its holdings in shares of PROCEPT BioRobotics by 5.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,588 shares of the company’s stock worth $444,000 after purchasing an additional 568 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PROCEPT BioRobotics by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,397 shares of the company’s stock worth $394,000 after purchasing an additional 676 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of PROCEPT BioRobotics by 10.3% in the 4th quarter. Diversified Trust Co now owns 10,717 shares of the company’s stock worth $449,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Up 2.0 %

PROCEPT BioRobotics stock traded up $1.26 during mid-day trading on Friday, hitting $64.88. 109,205 shares of the company’s stock traded hands, compared to its average volume of 550,688. The firm has a 50 day simple moving average of $63.45 and a two-hundred day simple moving average of $53.06. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $77.00. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The business had revenue of $44.50 million during the quarter, compared to the consensus estimate of $41.58 million. During the same quarter last year, the firm posted ($0.63) EPS. The company’s quarterly revenue was up 82.4% on a year-over-year basis. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.93 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 30,432 shares of PROCEPT BioRobotics stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total transaction of $1,916,303.04. Following the completion of the sale, the executive vice president now owns 62,472 shares of the company’s stock, valued at $3,933,861.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thomas M. Krummel sold 20,000 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now owns 45,631 shares of the company’s stock, valued at $2,737,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alaleh Nouri sold 30,432 shares of PROCEPT BioRobotics stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the sale, the executive vice president now directly owns 62,472 shares of the company’s stock, valued at approximately $3,933,861.84. The disclosure for this sale can be found here. Insiders sold 86,478 shares of company stock valued at $5,515,482 in the last quarter. 17.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRCT shares. TD Cowen upped their target price on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Piper Sandler upped their price target on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Truist Financial upped their target price on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.20.

PROCEPT BioRobotics 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).