Nicholas Investment Partners LP Has $5.49 Million Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Nicholas Investment Partners LP grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,137 shares of the company’s stock after acquiring an additional 2,777 shares during the period. Nicholas Investment Partners LP owned 0.13% of PROCEPT BioRobotics worth $5,486,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PRCT. Signaturefd LLC raised its stake in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the period. Ensign Peak Advisors Inc grew its holdings in shares of PROCEPT BioRobotics by 1.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock worth $1,141,000 after purchasing an additional 150 shares in the last quarter. Naviter Wealth LLC lifted its holdings 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 acquiring an additional 176 shares during the last quarter. Amundi lifted its position in PROCEPT BioRobotics by 0.9% in the 4th quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after buying an additional 183 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock worth $1,150,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics 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 $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. The trade was a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the company’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 transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07% 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 valued at $368,322 in the last quarter. Insiders own 6.60% of the company’s stock.

PROCEPT BioRobotics Trading Down 2.6%

NASDAQ:PRCT opened at $53.04 on Wednesday. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81. The company has a market capitalization of $2.93 billion, a PE ratio of -27.20 and a beta of 1.10. The stock’s 50 day moving average price is $55.33 and its 200 day moving average price is $72.66. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

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

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).