Champlain Investment Partners LLC Reduces Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Champlain Investment Partners LLC trimmed its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 456,930 shares of the company's stock after selling 193,363 shares during the quarter. Champlain Investment Partners LLC owned about 0.88% of PROCEPT BioRobotics worth $36,792,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PRCT. HighTower Advisors LLC purchased a new position in PROCEPT BioRobotics in the third quarter valued at $279,000. Geode Capital Management LLC lifted its holdings in shares of PROCEPT BioRobotics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company's stock valued at $88,678,000 after buying an additional 84,244 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $64,000. Franklin Resources Inc. raised its stake in PROCEPT BioRobotics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock valued at $64,669,000 after purchasing an additional 347,330 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of 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 buying an additional 233,430 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

Insider Transactions at PROCEPT BioRobotics

In related 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 owns 173,070 shares of the company's stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. The trade was a 0.67 % 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 over the last ninety days. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Up 5.1 %

PROCEPT BioRobotics stock traded up $2.68 during midday trading on Wednesday, reaching $55.48. The stock had a trading volume of 618,949 shares, compared to its average volume of 787,549. The stock has a market capitalization of $3.04 billion, a P/E ratio of -28.45 and a beta of 1.09. The firm's fifty day simple moving average is $58.57 and its 200-day simple moving average is $74.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. PROCEPT BioRobotics Co. has a 1-year low of $47.04 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted 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). The business had revenue of $68.24 million for the quarter, compared to analyst estimates 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, analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

PRCT has been the topic of several research reports. Truist Financial cut their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and an average target price of $91.43.

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).