Graham Capital Management L.P. Invests $230,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Graham Capital Management L.P. bought a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,855 shares of the company’s stock, valued at approximately $230,000.

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

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $58.07 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -29.78 and a beta of 1.10. The firm has a 50-day moving average of $55.22 and a two-hundred day moving average of $71.77. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81.

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

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,455 shares of company stock worth $368,322. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRCT shares. Bank of America lowered their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a report on Friday, April 25th. 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 research note on Wednesday, February 26th. Finally, Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. One equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

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).