Lyell Wealth Management LP Decreases Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Lyell Wealth Management LP lowered its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 12.2% in the 4th quarter, HoldingsChannel reports. The fund owned 84,203 shares of the company’s stock after selling 11,685 shares during the period. Lyell Wealth Management LP’s holdings in PROCEPT BioRobotics were worth $3,529,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. bought a new position in PROCEPT BioRobotics in the 3rd quarter worth about $71,000. Blue Trust Inc. boosted its stake in PROCEPT BioRobotics by 30.9% in the 4th quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after purchasing an additional 620 shares during the period. Glass Jacobson Investment Advisors llc bought a new position in PROCEPT BioRobotics in the 4th quarter worth about $138,000. Amalgamated Bank boosted its stake in PROCEPT BioRobotics by 8.8% in the 3rd quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after purchasing an additional 442 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PROCEPT BioRobotics by 23.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company’s stock worth $286,000 after purchasing an additional 1,684 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of PRCT traded down $1.27 during trading hours on Wednesday, reaching $52.48. 519,732 shares of the company’s stock traded hands, compared to its average volume of 499,018. The firm’s 50 day simple moving average is $49.19 and its 200-day simple moving average is $42.32. The stock has a market cap of $2.67 billion, a PE ratio of -23.82 and a beta of 1.01. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $54.79. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). The firm had revenue of $43.58 million during the quarter, compared to the consensus estimate of $41.79 million. PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The business’s quarterly revenue was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.56) EPS. Equities analysts expect that PROCEPT BioRobotics Co. will post -2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PRCT. Truist Financial raised their target price on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $45.60.

Insider Buying and Selling

In related news, CEO Reza Zadno sold 5,391 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $48.83, for a total value of $263,242.53. Following the completion of the sale, the chief executive officer now owns 241,319 shares in the company, valued at approximately $11,783,606.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,391 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $48.83, for a total value of $263,242.53. Following the transaction, the chief executive officer now directly owns 241,319 shares of the company’s stock, valued at approximately $11,783,606.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total value of $265,034.70. Following the completion of the transaction, the executive vice president now directly owns 47,351 shares in the company, valued at $2,365,182.45. The disclosure for this sale can be found here. Insiders sold 94,149 shares of company stock worth $4,653,720 in the last quarter. 19.60% of the stock is owned by insiders.

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).