Bessemer Group Inc. Acquires 3,665 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Bessemer Group Inc. lifted its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 50.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,900 shares of the company’s stock after purchasing an additional 3,665 shares during the period. Bessemer Group Inc.’s holdings in PROCEPT BioRobotics were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Signaturefd LLC lifted its stake in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after acquiring an additional 145 shares during the period. IFP Advisors Inc bought a new position in PROCEPT BioRobotics in the fourth quarter valued at about $58,000. WINTON GROUP Ltd bought a new position in PROCEPT BioRobotics in the fourth quarter valued at about $207,000. Finally, Freestone Grove Partners LP acquired a new stake in PROCEPT BioRobotics in the fourth quarter worth about $207,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America cut their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.00.

Insider Activity

In related news, Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the transaction, the director directly owned 14,363 shares of the company’s stock, valued at approximately $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 100,000 shares of company stock worth $6,271,250 over the last ninety days. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Price Performance

Shares of PRCT stock opened at $56.57 on Wednesday. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a 12-month low of $47.04 and a 12-month high of $103.81. The firm has a fifty day moving average of $57.66 and a 200-day moving average of $64.17. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -33.28 and a beta of 1.07.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The firm had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same period in the previous year, the company posted ($0.51) earnings per share. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

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).