Renaissance Technologies LLC Purchases Shares of 278,466 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Renaissance Technologies LLC bought a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 278,466 shares of the company's stock, valued at approximately $22,422,000. Renaissance Technologies LLC owned 0.53% of PROCEPT BioRobotics at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PRCT. FMR LLC increased its stake in shares of PROCEPT BioRobotics by 11.9% in the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock valued at $656,979,000 after acquiring an additional 866,328 shares during the last quarter. Perpetual Ltd acquired a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $66,972,000. Wellington Management Group LLP increased its stake in PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after purchasing an additional 416,819 shares in the last quarter. Franklin Resources Inc. raised its holdings in PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after purchasing an additional 347,330 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of PROCEPT BioRobotics by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock worth $413,907,000 after purchasing an additional 297,075 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial lowered their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Morgan Stanley dropped their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and a consensus price target of $91.43.

PROCEPT BioRobotics Stock Up 0.4 %

Shares of PRCT traded up $0.22 during midday trading on Friday, hitting $53.03. The stock had a trading volume of 868,416 shares, compared to its average volume of 780,689. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -27.19 and a beta of 1.09. The company has a 50 day simple moving average of $59.41 and a two-hundred day simple moving average of $74.83. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 17.40% of the company's stock.

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).