PROCEPT BioRobotics Co. (NASDAQ:PRCT) is Taylor Frigon Capital Management LLC’s 2nd Largest Position

Taylor Frigon Capital Management LLC lowered its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 26.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 54,367 shares of the company’s stock after selling 19,923 shares during the period. PROCEPT BioRobotics comprises approximately 2.2% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Taylor Frigon Capital Management LLC’s holdings in PROCEPT BioRobotics were worth $4,378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRCT. State Street Corp grew its holdings in PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after buying an additional 66,175 shares in the last quarter. Geode Capital Management LLC grew its stake in PROCEPT BioRobotics by 8.2% during the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after acquiring an additional 84,244 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics in the 3rd quarter valued at $72,563,000. Franklin Resources Inc. lifted its stake in PROCEPT BioRobotics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after purchasing an additional 347,330 shares in the last quarter. Finally, Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at about $66,972,000. 89.46% of the stock is currently owned by institutional investors.

Insider Activity at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the completion of the sale, the chief executive officer now owns 152,762 shares in the company, valued at approximately $14,851,521.64. The trade was a 14.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares in the company, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.40% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Up 8.6 %

NASDAQ PRCT opened at $68.11 on Thursday. The company has a fifty day moving average of $75.25 and a two-hundred day moving average of $79.94. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -34.93 and a beta of 1.03. 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 Co. has a 52 week low of $45.20 and a 52 week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $68.24 million during the quarter, compared to analysts’ expectations of $66.79 million. On average, analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCT has been the topic of several research reports. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. Morgan Stanley lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.29.

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).