EP Wealth Advisors LLC Sells 3,810 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

EP Wealth Advisors LLC decreased its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 26.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,641 shares of the company’s stock after selling 3,810 shares during the quarter. EP Wealth Advisors LLC’s holdings in PROCEPT BioRobotics were worth $857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $64,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in PROCEPT BioRobotics during the 4th quarter valued at $453,000. Hennion & Walsh Asset Management Inc. boosted its holdings in PROCEPT BioRobotics by 62.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 9,624 shares of the company’s stock valued at $775,000 after purchasing an additional 3,702 shares during the period. KRS Capital Management LLC grew its position in PROCEPT BioRobotics by 0.5% in the 4th quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock worth $3,741,000 after purchasing an additional 225 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its holdings in shares of PROCEPT BioRobotics by 24.0% during the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock worth $2,420,000 after purchasing an additional 5,817 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $53.12 on Friday. The business has a 50 day simple moving average of $55.66 and a 200 day simple moving average of $72.86. 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 company has a market capitalization of $2.94 billion, a PE ratio of -27.24 and a beta of 1.10. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $65.39 million. During the same period last year, the business earned ($0.51) earnings per share. The business’s revenue was up 55.5% on a year-over-year basis. On average, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction 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 approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock worth $368,322 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America reduced their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.00.

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).