New York State Common Retirement Fund Buys 44,324 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

New York State Common Retirement Fund raised its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 30.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 189,154 shares of the company’s stock after buying an additional 44,324 shares during the quarter. New York State Common Retirement Fund’s holdings in PROCEPT BioRobotics were worth $15,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRCT. Lord Abbett & CO. LLC increased its position in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after purchasing an additional 233,430 shares during the period. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at about $66,972,000. Penserra Capital Management LLC acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $2,308,000. Oak Ridge Investments LLC raised its stake in shares of PROCEPT BioRobotics by 24.0% during the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock worth $2,420,000 after buying an additional 5,817 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock valued at $531,000 after acquiring an additional 4,931 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the completion of the sale, the executive vice president now owns 52,472 shares in the company, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total value of $2,568,844.06. Following the completion of the sale, the chief executive officer now owns 152,762 shares of the company’s stock, valued at $14,851,521.64. This trade represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,935 shares of company stock valued at $7,882,089 in the last 90 days. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $62.25 on Monday. PROCEPT BioRobotics Co. has a fifty-two week low of $45.20 and a fifty-two week high of $103.81. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -31.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50-day moving average of $76.53 and a 200-day moving average of $79.99.

Analysts Set New Price Targets

Several brokerages have commented on PRCT. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They set an “overweight” rating and a $105.00 target price for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.86.

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).