Sit Investment Associates Inc. Purchases 3,835 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Sit Investment Associates Inc. increased its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 42.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,835 shares of the company’s stock after buying an additional 3,835 shares during the period. Sit Investment Associates Inc.’s holdings in PROCEPT BioRobotics were worth $1,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC lifted its position in PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after acquiring an additional 145 shares during the last quarter. Naviter Wealth LLC lifted its position in shares of PROCEPT BioRobotics by 6.0% during the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock worth $249,000 after purchasing an additional 176 shares during the last quarter. Amundi lifted its position in shares of PROCEPT BioRobotics by 0.9% during the 4th quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after purchasing an additional 183 shares during the last quarter. Arizona State Retirement System boosted its stake in PROCEPT BioRobotics by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after purchasing an additional 218 shares during the period. Finally, KRS Capital Management LLC grew its holdings in PROCEPT BioRobotics by 0.5% in the 4th quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock valued at $3,741,000 after buying an additional 225 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Down 6.5 %

Shares of PRCT stock opened at $51.23 on Monday. PROCEPT BioRobotics Co. has a one year low of $46.99 and a one 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. The stock has a fifty day moving average price of $63.77 and a 200 day moving average price of $76.92. The stock has a market cap of $2.81 billion, a P/E ratio of -26.27 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data 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 business had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. Analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PRCT has been the subject of several research reports. Truist Financial reissued a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Morgan Stanley decreased their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.29.

Insiders Place Their Bets

In other news, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 over the last quarter. Company insiders own 17.40% of the company’s stock.

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).