Lisanti Capital Growth LLC Makes New $5.10 Million Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Lisanti Capital Growth LLC acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 121,690 shares of the company’s stock, valued at approximately $5,100,000. PROCEPT BioRobotics makes up about 1.2% of Lisanti Capital Growth LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds also recently modified their holdings of PRCT. FMR LLC increased its position in PROCEPT BioRobotics by 13.0% in the third quarter. FMR LLC now owns 7,553,460 shares of the company’s stock worth $247,829,000 after buying an additional 870,364 shares during the last quarter. Wellington Management Group LLP purchased a new stake in PROCEPT BioRobotics during the third quarter valued at about $26,404,000. Loomis Sayles & Co. L P boosted its position in PROCEPT BioRobotics by 89.8% during the third quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock worth $44,144,000 after purchasing an additional 636,750 shares during the period. Vanguard Group Inc. increased its stake in shares of PROCEPT BioRobotics by 10.4% in the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock worth $133,697,000 after purchasing an additional 385,271 shares in the last quarter. Finally, Braidwell LP bought a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $10,862,000. Institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Piper Sandler lifted their target price on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. Finally, Truist Financial lifted their price target on PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $61.20.

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 30,432 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the completion of the sale, the executive vice president now owns 62,472 shares in the company, valued at $3,933,861.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at approximately $1,676,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alaleh Nouri sold 30,432 shares of PROCEPT BioRobotics stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.97, for a total value of $1,916,303.04. Following the completion of the sale, the executive vice president now owns 62,472 shares in the company, valued at $3,933,861.84. The disclosure for this sale can be found here. Insiders have sold a total of 144,581 shares of company stock worth $7,770,023 in the last ninety days. 19.60% of the stock is owned by insiders.

PROCEPT BioRobotics Trading Down 4.5 %

Shares of PROCEPT BioRobotics stock traded down $2.88 during trading on Monday, reaching $61.43. The company’s stock had a trading volume of 1,072,443 shares, compared to its average volume of 544,216. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. PROCEPT BioRobotics Co. has a 52-week low of $24.83 and a 52-week high of $65.00. The firm’s 50-day moving average is $50.51 and its two-hundred day moving average is $44.06. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -28.98 and a beta of 0.95.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.04. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company’s revenue was up 82.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.63) earnings per share. On average, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.96 earnings per share for the current 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).