LMR Partners LLP Purchases 9,072 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

LMR Partners LLP grew its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 63.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,361 shares of the company’s stock after purchasing an additional 9,072 shares during the quarter. LMR Partners LLP’s holdings in PROCEPT BioRobotics were worth $1,872,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in PROCEPT BioRobotics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after acquiring an additional 62,164 shares during the period. Bellevue Group AG grew its position in shares of PROCEPT BioRobotics by 0.5% during the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after acquiring an additional 4,768 shares during the period. Driehaus Capital Management LLC grew its position in shares of PROCEPT BioRobotics by 25.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock valued at $21,344,000 after acquiring an additional 71,930 shares during the period. Chicago Capital LLC lifted its stake in PROCEPT BioRobotics by 12.7% in the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company’s stock valued at $21,044,000 after buying an additional 29,668 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $90.98 on Tuesday. The company has a 50-day simple moving average of $80.97 and a 200-day simple moving average of $71.53. PROCEPT BioRobotics Co. has a one year low of $31.57 and a one year high of $103.81. 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 issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same period in the previous year, the business posted ($0.51) earnings per share. The business’s revenue was up 66.4% compared to the same quarter last year. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the transaction, the chief executive officer now owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 535,353 shares of company stock valued at $46,627,426. Company insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

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

About PROCEPT BioRobotics

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).