Taylor Frigon Capital Management LLC Has $5.95 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

by · The Cerbat Gem

Taylor Frigon Capital Management LLC lessened its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT – Free Report) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,290 shares of the company’s stock after selling 7,590 shares during the quarter. PROCEPT BioRobotics accounts for approximately 3.0% of Taylor Frigon Capital Management LLC’s holdings, making the stock its biggest position. Taylor Frigon Capital Management LLC owned approximately 0.14% of PROCEPT BioRobotics worth $5,952,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PRCT. Vanguard Group Inc. raised its holdings in PROCEPT BioRobotics by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 4,184,585 shares of the company’s stock worth $175,376,000 after acquiring an additional 109,694 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of PROCEPT BioRobotics by 25.4% during the first quarter. Diversified Trust Co now owns 13,442 shares of the company’s stock valued at $664,000 after purchasing an additional 2,725 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of PROCEPT BioRobotics by 23.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 199,027 shares of the company’s stock valued at $9,836,000 after buying an additional 37,179 shares during the last quarter. Principal Financial Group Inc. increased its holdings in PROCEPT BioRobotics by 98.2% in the 1st quarter. Principal Financial Group Inc. now owns 20,983 shares of the company’s stock worth $1,037,000 after buying an additional 10,395 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in PROCEPT BioRobotics in the 1st quarter worth about $307,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Activity

In related news, Director Antal Rohit Desai sold 13,305 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares of the company’s stock, valued at approximately $24,248,849.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Antal Rohit Desai sold 13,305 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the transaction, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00. Following the sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $7,928,880.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,892 shares of company stock worth $13,946,415 in the last three months. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded down $0.07 during trading on Thursday, reaching $67.25. The company had a trading volume of 302,158 shares, compared to its average volume of 599,346. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -31.75 and a beta of 1.03. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $75.71 and its 200 day simple moving average is $66.80. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $53.35 million for the quarter, compared to analysts’ expectations of $50.10 million. During the same period in the previous year, the firm earned ($0.56) EPS. The business’s quarterly revenue was up 61.2% on a year-over-year basis. Sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRCT has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Truist Financial boosted their target price on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America increased their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company raised their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $86.40.

Check Out Our Latest Stock Report on PROCEPT BioRobotics

PROCEPT BioRobotics Company Profile

(Free Report)

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).

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