Corton Capital Inc. Makes New $295,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Corton Capital Inc. purchased a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,661 shares of the company’s stock, valued at approximately $295,000.

Other large investors have also recently modified their holdings of the company. Perpetual Ltd bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at about $66,972,000. Oak Ridge Investments LLC increased its position in shares of PROCEPT BioRobotics by 24.0% during the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company’s stock valued at $2,420,000 after acquiring an additional 5,817 shares in the last quarter. SG Americas Securities LLC raised its holdings in PROCEPT BioRobotics by 295.8% in the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company’s stock worth $531,000 after acquiring an additional 4,931 shares during the last quarter. Chicago Capital LLC lifted its position in PROCEPT BioRobotics by 44.5% in the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company’s stock valued at $30,564,000 after acquiring an additional 116,931 shares in the last quarter. Finally, Matisse Capital boosted its stake in PROCEPT BioRobotics by 112.9% during the 4th quarter. Matisse Capital now owns 22,285 shares of the company’s stock valued at $1,794,000 after purchasing an additional 11,817 shares during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

PRCT has been the topic of a number of research analyst reports. Bank of America lowered their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Truist Financial dropped their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley decreased their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.00.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,455 shares of company stock valued at $368,322. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $53.23 on Wednesday. The firm’s 50 day moving average price is $56.24 and its 200-day moving average price is $73.15. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.94 billion, a PE ratio of -27.30 and a beta of 1.10. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same quarter in the previous year, the firm posted ($0.51) EPS. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. Equities research analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

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).