Nisa Investment Advisors LLC Purchases 270 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Nisa Investment Advisors LLC lifted its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 32.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the company’s stock after acquiring an additional 270 shares during the period. Nisa Investment Advisors LLC’s holdings in PROCEPT BioRobotics were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

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 stake in PROCEPT BioRobotics in the fourth quarter worth approximately $46,000. Signaturefd LLC grew its position in shares of PROCEPT BioRobotics by 26.7% during the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after buying an additional 145 shares during the period. WINTON GROUP Ltd bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at $207,000. Freestone Grove Partners LP acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at $207,000. Finally, Commonwealth Equity Services LLC bought a new position in PROCEPT BioRobotics during the fourth quarter worth $213,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Down 1.0%

NASDAQ PRCT opened at $58.35 on Friday. The firm has a market cap of $3.23 billion, a PE ratio of -34.32 and a beta of 1.07. PROCEPT BioRobotics Corporation has a 1-year low of $47.04 and a 1-year high of $103.81. The stock has a 50-day moving average of $58.73 and a 200-day moving average of $62.06. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13.

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

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 14,363 shares in the company, valued at approximately $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 100,000 shares of company stock worth $6,271,250. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PRCT shares. Morgan Stanley decreased their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday. Stephens assumed coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an “overweight” rating and a $70.00 target price for the company. Bank of America dropped their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Truist Financial reduced their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.13.

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).