PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by Matisse Capital

Matisse Capital lifted its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 112.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,285 shares of the company’s stock after buying an additional 11,817 shares during the period. Matisse Capital’s holdings in PROCEPT BioRobotics were worth $1,794,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PRCT. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth approximately $64,000. Canton Hathaway LLC bought a new stake in shares of PROCEPT BioRobotics in the third quarter worth $66,000. Finally, Nisa Investment Advisors LLC raised its holdings in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after acquiring an additional 713 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Down 1.7 %

NASDAQ:PRCT opened at $71.25 on Tuesday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $83.92 and its 200 day simple moving average is $79.50. PROCEPT BioRobotics Co. has a twelve month low of $45.20 and a twelve month high of $103.81.

Insider Activity

In related news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now owns 52,472 shares in the company, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 26,420 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total value of $2,445,699.40. Following the completion of the transaction, the chief executive officer now directly owns 205,605 shares in the company, valued at $19,032,854.85. This trade represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,355 shares of company stock valued at $13,571,048 in the last 90 days. 17.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRCT shares. Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Finally, Morgan Stanley started coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They issued an “overweight” rating and a $105.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus price target of $97.86.

PROCEPT BioRobotics 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).