Penserra Capital Management LLC Buys New Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Penserra Capital Management LLC purchased a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,818 shares of the company’s stock, valued at approximately $2,308,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its holdings in shares of PROCEPT BioRobotics by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock worth $6,489,000 after acquiring an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics in the third quarter valued at $27,000. Arizona State Retirement System raised its position in shares of PROCEPT BioRobotics by 2.8% in the second quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after purchasing an additional 350 shares during the period. KBC Group NV lifted its stake in shares of PROCEPT BioRobotics by 32.6% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after buying an additional 376 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after buying an additional 408 shares during the period. Institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company increased their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen boosted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.50.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $97.78 on Tuesday. The firm has a market cap of $5.10 billion, a PE ratio of -50.14 and a beta of 1.01. 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 stock’s fifty day moving average price is $82.41 and its two-hundred day moving average price is $72.62. PROCEPT BioRobotics Co. has a one year low of $33.45 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. PROCEPT BioRobotics’s revenue for the quarter was up 66.4% compared to the same quarter last year. As a group, research analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Insider Activity

In related news, Director Antal Rohit Desai sold 35,220 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the sale, the director now directly owns 23,963 shares of the company’s stock, valued at $1,824,063.56. This trade represents a 59.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. The trade was a 20.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,773 shares of company stock worth $49,073,125. 17.40% of the stock is currently owned by corporate insiders.

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).