Bailard Inc. Reduces Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Bailard Inc. lessened its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,386 shares of the company’s stock after selling 2,000 shares during the period. Bailard Inc.’s holdings in PROCEPT BioRobotics were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after purchasing an additional 713 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics in the third quarter worth about $3,006,000. Sentry Investment Management LLC acquired a new stake in PROCEPT BioRobotics during the third quarter worth about $120,000. M&G PLC raised its position in PROCEPT BioRobotics by 2.9% during the third quarter. M&G PLC now owns 143,565 shares of the company’s stock valued at $11,485,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in PROCEPT BioRobotics by 290.2% in the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after acquiring an additional 51,030 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.29.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $60.60 on Tuesday. The company’s fifty day moving average price is $74.60 and its 200 day moving average price is $80.06. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81. The stock has a market capitalization of $3.16 billion, a P/E ratio of -31.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. As a group, equities research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 26,423 shares of PROCEPT BioRobotics 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 sale, the chief executive officer now owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. This trade represents a 14.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction 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 sale, the executive vice president now directly owns 52,472 shares in the company, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their position. The disclosure for this sale can be found here. 17.40% of the stock is owned by corporate insiders.

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).