Formula Growth Ltd. Sells 5,611 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Formula Growth Ltd. lowered its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 33,027 shares of the company’s stock after selling 5,611 shares during the quarter. Formula Growth Ltd.’s holdings in PROCEPT BioRobotics were worth $2,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRCT. Canada Pension Plan Investment Board lifted its stake in shares of PROCEPT BioRobotics by 2,239.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 53,800 shares of the company’s stock valued at $4,332,000 after buying an additional 51,500 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth about $3,413,000. EAM Global Investors LLC bought a new position in PROCEPT BioRobotics in the 4th quarter valued at about $3,021,000. Jump Financial LLC boosted its stake in PROCEPT BioRobotics by 318.0% during the 4th quarter. Jump Financial LLC now owns 49,865 shares of the company’s stock valued at $4,015,000 after purchasing an additional 37,935 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $389,000. Institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PRCT. Morgan Stanley lowered their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.43.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at $6,161,966.46. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Trading Up 0.4 %

NASDAQ:PRCT opened at $53.03 on Friday. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $59.41 and its 200 day moving average is $74.83. The stock has a market capitalization of $2.91 billion, a PE ratio of -27.19 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 for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

PROCEPT BioRobotics Company 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).