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

Lisanti Capital Growth LLC acquired a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 121,690 shares of the company’s stock, valued at approximately $5,100,000. PROCEPT BioRobotics makes up 1.2% of Lisanti Capital Growth LLC’s portfolio, making the stock its 27th largest position. Lisanti Capital Growth LLC owned about 0.24% of PROCEPT BioRobotics at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Blue Trust Inc. increased its position 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 last quarter. Glass Jacobson Investment Advisors llc acquired a new stake in PROCEPT BioRobotics in the 4th quarter worth approximately $138,000. Amalgamated Bank grew its holdings in PROCEPT BioRobotics by 8.8% during the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock valued at $180,000 after purchasing an additional 442 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PROCEPT BioRobotics by 23.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company’s stock worth $286,000 after buying an additional 1,684 shares during the period. Finally, M&T Bank Corp bought a new position in PROCEPT BioRobotics in the 3rd quarter worth $293,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRCT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial raised their price objective on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler upped their price target on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Cowen lifted their target price on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $61.20.

PROCEPT BioRobotics Trading Down 4.5 %

PROCEPT BioRobotics stock traded down $2.88 during mid-day trading on Monday, hitting $61.43. The stock had a trading volume of 1,072,443 shares, compared to its average volume of 544,216. The stock has a market capitalization of $3.16 billion, a PE ratio of -28.98 and a beta of 0.95. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $65.00. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $50.51 and a two-hundred day simple moving average of $44.06.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.58 million. During the same quarter in the previous year, the company earned ($0.63) EPS. PROCEPT BioRobotics’s revenue was up 82.4% on a year-over-year basis. As a group, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.96 EPS for the current year.

Insider Activity

In related news, EVP Alaleh Nouri sold 30,432 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kevin Waters sold 28,677 shares of PROCEPT BioRobotics stock in a transaction on Friday, February 9th. The shares were sold at an average price of $50.09, for a total transaction of $1,436,430.93. Following the transaction, the chief financial officer now directly owns 33,523 shares of the company’s stock, valued at $1,679,167.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alaleh Nouri sold 30,432 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 62,472 shares in the company, valued at approximately $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 valued at $7,770,023 in the last 90 days. 19.60% of the stock is owned by company insiders.

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).