Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,397 shares of the company’s stock after purchasing an additional 676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PROCEPT BioRobotics were worth $394,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. grew its position in PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after buying an additional 620 shares during the period. Glass Jacobson Investment Advisors llc acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $138,000. Amalgamated Bank grew its holdings in shares of PROCEPT BioRobotics by 8.8% in the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after acquiring an additional 442 shares during the period. M&T Bank Corp purchased a new position in PROCEPT BioRobotics in the 3rd quarter valued at approximately $293,000. Finally, Diversified Trust Co raised its holdings in PROCEPT BioRobotics by 10.3% during the fourth quarter. Diversified Trust Co now owns 10,717 shares of the company’s stock worth $449,000 after purchasing an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Transactions at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 5,306 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total transaction of $265,034.70. Following the transaction, the executive vice president now owns 47,351 shares of the company’s stock, valued at $2,365,182.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Reza Zadno sold 5,391 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $48.83, for a total value of $263,242.53. Following the transaction, the chief executive officer now owns 241,319 shares in the company, valued at $11,783,606.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total transaction of $265,034.70. Following the transaction, the executive vice president now directly owns 47,351 shares in the company, valued at $2,365,182.45. The disclosure for this sale can be found here. Insiders sold a total of 124,581 shares of company stock worth $6,570,023 over the last ninety days. 19.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PRCT shares. Truist Financial upped their target price on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Buy” and an average price target of $49.50.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $64.31 on Friday. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $64.89. The stock has a market cap of $3.31 billion, a PE ratio of -30.33 and a beta of 0.95. The business’s fifty day moving average price is $50.25 and its two-hundred day moving average price is $43.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative return on equity of 42.13% and a negative net margin of 66.12%. The business had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. During the same quarter last year, the company earned ($0.63) earnings per share. The business’s revenue for the quarter was up 82.4% compared to the same quarter last year. On average, analysts forecast that PROCEPT BioRobotics Co. will post -2 EPS for the current fiscal year.

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).