Canton Hathaway LLC Invests $66,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 820 shares of the company’s stock, valued at approximately $66,000.

Other large investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in PROCEPT BioRobotics in the third quarter valued at $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter worth about $36,000. Quest Partners LLC raised its holdings in PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after buying an additional 648 shares during the period. Nisa Investment Advisors LLC boosted its stake in PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after buying an additional 713 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in shares of PROCEPT BioRobotics during the third quarter valued at about $120,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Antal Rohit Desai sold 13,305 shares of the company’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 transaction, the director now directly owns 317,518 shares of the company’s stock, valued at $24,248,849.66. This represents a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. This trade represents a 52.74 % 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 valued at $49,073,125. 17.40% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Up 2.4 %

PRCT stock opened at $95.89 on Monday. The stock has a market cap of $5.00 billion, a P/E ratio of -48.00 and a beta of 1.01. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a twelve month low of $33.45 and a twelve month high of $103.81. The company’s 50 day moving average is $82.41 and its two-hundred day moving average is $72.53.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (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 firm had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the prior year, the firm earned ($0.51) EPS. The business’s revenue was up 66.4% on a year-over-year basis. Research analysts expect that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective on the stock. Bank of America upped their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. TD Cowen raised their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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).