BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510,653 shares of the company's stock after selling 9,297 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.98% of PROCEPT BioRobotics worth $40,914,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Chicago Capital LLC acquired a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $14,233,000. Federated Hermes Inc. increased its position in 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 in the last quarter. Transatlantique Private Wealth LLC acquired a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $9,164,000. M&G Plc acquired a new position in PROCEPT BioRobotics during the 2nd quarter valued at about $8,507,000. Finally, Segall Bryant & Hamill LLC acquired a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $8,076,000. 89.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler reiterated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a "hold" rating and a $95.00 price target on the stock. TD Cowen boosted their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Truist Financial reiterated a "buy" rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Finally, Bank of America boosted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and an average price target of $89.50.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 13,305 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares of the company's stock, valued at approximately $24,248,849.66. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the chief executive officer now directly owns 205,605 shares of the company's stock, valued at approximately $19,032,854.85. This represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,773 shares of company stock valued at $49,073,125. 17.40% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Performance

Shares of PRCT traded down $0.85 during mid-day trading on Friday, reaching $93.60. The company had a trading volume of 361,207 shares, compared to its average volume of 657,436. PROCEPT BioRobotics Co. has a 52-week low of $33.45 and a 52-week 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. The stock has a market capitalization of $4.88 billion, a P/E ratio of -48.71 and a beta of 1.01. The stock has a 50 day moving average of $82.16 and a two-hundred day moving average of $72.24.

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

PROCEPT BioRobotics Company 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).