Lyell Wealth Management LP Reduces Stake in PROCEPT BioRobotics Co.

Lyell Wealth Management LP has decreased its investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 15.6% during the fourth quarter, as reported in their recent Form 13F submitted to the Securities and Exchange Commission (SEC). Following the sale of 7,750 shares during this period, the firm now holds 41,930 shares of PROCEPT BioRobotics. This holding is valued at approximately $3,376,000, which accounts for about 0.08% of the company’s stock.

Changes in Institutional Holdings

In addition to Lyell Wealth Management LP, several other institutional investors and hedge funds have adjusted their positions in PROCEPT BioRobotics. For instance, KRS Capital Management LLC raised its stake by 0.5% in the fourth quarter, now owning 46,455 shares valued at around $3,741,000 after acquiring an additional 225 shares. Values First Advisors Inc. made a new investment in the third quarter, purchasing shares worth approximately $27,000. KBC Group NV also increased its shares by 32.6% during the third quarter, owning 1,531 shares worth $123,000 after a purchase of 376 shares.

CEO and Insider Trading Activity

Recent reports indicate that corporate insiders have engaged in significant trading activity. PROCEPT BioRobotics CEO Reza Zadno sold 26,420 shares on November 27 at an average price of $97.83, totaling approximately $2,584,668.60. After this transaction, he retains 179,185 shares valued at about $17,529,668.55, representing a 12.85% reduction in his position. Similarly, EVP Alaleh Nouri sold 28,092 shares on December 4 at an average price of $97.13, which amounted to $2,728,575.96. Following this sale, Nouri holds 52,472 shares valued around $5,096,605.36, reflecting a 34.87% decline in ownership. Over the past three months, corporate insiders have sold a total of 80,935 shares, with insider ownership currently at 17.40%.

Current Share Performance and Analysis

As of Wednesday, PROCEPT BioRobotics shares opened at $66.92. The company’s stock has seen a one-year low of $45.20 and a high of $103.81. The 50-day simple moving average stands at $78.51, while the 200-day average is at $79.80. PROCEPT BioRobotics maintains a quick ratio of 5.07, a current ratio of 6.02, and a debt-to-equity ratio of 0.21.

Recent Analyst Ratings

PROCEPT BioRobotics has been the subject of several research reports recently. Jefferies Financial Group began coverage by assigning a "hold" rating with a price target of $95.00. Wells Fargo & Company reaffirmed an "overweight" rating with a target price of $112.00. Morgan Stanley has also initiated coverage, giving an "overweight" rating with a target price of $105.00. Truist Financial has raised their price target from $95.00 to $105.00, maintaining a "buy" rating. Currently, analysts have mixed ratings for PROCEPT BioRobotics, with one holding a "hold" rating and six issuing buy ratings. The average rating across analysts is a "Moderate Buy" with a consensus target price of $97.86.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation specializes in surgical robotics, particularly focused on creating solutions for urology within both the United States and international markets. The company is known for its development of the AquaBeam Robotic System, which is an image-guided, surgical robotic system used for minimally invasive procedures aimed at treating benign prostatic hyperplasia (BPH).

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