Axiom Investors LLC DE Invests $7.33 Million in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Axiom Investors LLC DE acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 91,001 shares of the company's stock, valued at approximately $7,327,000. Axiom Investors LLC DE owned about 0.17% of PROCEPT BioRobotics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of PROCEPT BioRobotics by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 402,565 shares of the company's stock worth $32,254,000 after acquiring an additional 46,665 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PROCEPT BioRobotics by 34.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,316 shares of the company's stock valued at $1,067,000 after purchasing an additional 3,403 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PROCEPT BioRobotics by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,460 shares of the company's stock worth $9,331,000 after buying an additional 3,083 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in PROCEPT BioRobotics in the third quarter valued at $353,000. Finally, Verition Fund Management LLC acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at about $2,132,000. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 3.1 %

Shares of PRCT traded down $1.69 during midday trading on Friday, hitting $53.09. The company had a trading volume of 577,975 shares, compared to its average volume of 757,454. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -27.13 and a beta of 1.05. PROCEPT BioRobotics Co. has a 52 week low of $45.56 and a 52 week high of $103.81. The company's 50 day moving average price is $64.22 and its 200 day moving average price is $77.19. 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 issued its 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 business had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. On average, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on 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 owns 107,991 shares of the company's stock, valued at $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 in the last three months. 17.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PRCT shares. Morgan Stanley cut their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Truist Financial reissued a "buy" rating and issued a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus 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).