Fmr LLC Grows Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Fmr LLC boosted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 0.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,292,880 shares of the company’s stock after acquiring an additional 3,070 shares during the period. Fmr LLC owned about 13.98% of PROCEPT BioRobotics worth $584,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRCT. M&G Plc purchased a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at $8,507,000. Federated Hermes Inc. grew its stake in shares of PROCEPT BioRobotics by 788.9% during the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares during the period. Nicholas Investment Partners LP purchased a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at $4,657,000. Vanguard Group Inc. grew its stake in shares of PROCEPT BioRobotics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after buying an additional 62,164 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of PROCEPT BioRobotics by 290.2% during the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after buying an additional 51,030 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $97.29 on Friday. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two week high of $103.81. The firm has a 50-day simple moving average of $83.40 and a 200 day simple moving average of $73.29. The company has a market cap of $5.08 billion, a PE ratio of -49.89 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $53.30 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. PROCEPT BioRobotics’s quarterly revenue was up 66.4% on a year-over-year basis. On average, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $75.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Bank of America boosted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. TD Cowen lifted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Truist Financial restated a “buy” rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Insider Activity at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares in the company, valued at approximately $6,964,077.12. This represents a 20.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reza Zadno sold 26,420 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 205,605 shares of the company’s stock, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,773 shares of company stock valued at $49,073,125 over the last ninety days. Insiders own 17.40% of the company’s stock.

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).