Resona Asset Management Co. Ltd. Invests $488,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Resona Asset Management Co. Ltd. purchased a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 6,023 shares of the company’s stock, valued at approximately $488,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRCT. HighTower Advisors LLC purchased a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at $279,000. State Street Corp increased its holdings in PROCEPT BioRobotics by 5.9% in the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in PROCEPT BioRobotics in the third quarter valued at about $1,081,000. Geode Capital Management LLC raised its position in PROCEPT BioRobotics by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after purchasing an additional 84,244 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of PROCEPT BioRobotics during the third quarter worth about $228,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 5,475 shares of the company’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 transaction of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 in the last ninety days. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Trading Down 7.2 %

Shares of PRCT opened at $50.73 on Friday. PROCEPT BioRobotics Co. has a one year low of $46.25 and a one year high of $103.81. The stock has a 50-day moving average price of $61.23 and a 200 day moving average price of $75.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The company has a market capitalization of $2.78 billion, a P/E ratio of -26.02 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. Sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRCT. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. 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. One 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.com, the company has an average rating of “Moderate Buy” and an average target price of $94.29.

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).