PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,345 shares of the company's stock after buying an additional 24,974 shares during the period. Bank of New York Mellon Corp owned 0.47% of PROCEPT BioRobotics worth $19,916,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PRCT. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics during the fourth quarter worth approximately $32,000. IFP Advisors Inc acquired a new position in PROCEPT BioRobotics during the fourth quarter worth approximately $58,000. Wilmington Savings Fund Society FSB acquired a new position in PROCEPT BioRobotics during the third quarter worth approximately $64,000. Arcadia Investment Management Corp MI acquired a new position in PROCEPT BioRobotics during the fourth quarter worth approximately $64,000. Finally, Canton Hathaway LLC acquired a new position in PROCEPT BioRobotics during the third quarter worth approximately $66,000. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded down $1.56 during trading on Thursday, reaching $56.03. The company's stock had a trading volume of 996,207 shares, compared to its average volume of 721,940. 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 12-month low of $45.56 and a 12-month high of $103.81. The company has a market capitalization of $3.07 billion, a P/E ratio of -28.73 and a beta of 1.06. The business has a 50 day moving average price of $71.15 and a 200-day moving average price of $79.37.

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

Analysts Set New Price Targets

PRCT has been the topic of several analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Morgan Stanley lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Truist Financial reiterated a "buy" rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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).