Artisan Partners Limited Partnership Sells 24,712 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Artisan Partners Limited Partnership lessened its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 425,717 shares of the company's stock after selling 24,712 shares during the period. Artisan Partners Limited Partnership owned about 0.82% of PROCEPT BioRobotics worth $34,279,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its stake in PROCEPT BioRobotics by 45.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock worth $59,974,000 after acquiring an additional 233,430 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $66,972,000. Oak Ridge Investments LLC lifted its position in shares of PROCEPT BioRobotics by 24.0% in the fourth quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock worth $2,420,000 after purchasing an additional 5,817 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of PROCEPT BioRobotics by 295.8% during the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after purchasing an additional 4,931 shares during the period. Finally, Chicago Capital LLC grew its position in PROCEPT BioRobotics by 44.5% during the fourth quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after purchasing an additional 116,931 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reza Zadno sold 5,475 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 in the last quarter. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Up 1.6 %

Shares of NASDAQ:PRCT traded up $0.90 on Wednesday, reaching $57.99. The company had a trading volume of 155,258 shares, compared to its average volume of 750,561. The stock has a market capitalization of $3.18 billion, a P/E ratio of -29.66 and a beta of 1.05. The stock has a 50-day moving average price of $64.98 and a 200 day moving average price of $77.66. PROCEPT BioRobotics Co. has a twelve month low of $45.56 and a twelve month high of $103.81. 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 (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) 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 company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Wall Street Analyst Weigh In

PRCT has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Morgan Stanley reduced their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of "Moderate Buy" and an average target price of $94.29.

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).