Charles Schwab Investment Management Inc. Has $32.25 Million Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Charles Schwab Investment Management Inc. boosted its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,565 shares of the company's stock after acquiring an additional 46,665 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.77% of PROCEPT BioRobotics worth $32,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRCT. Contravisory Investment Management Inc. bought a new stake in PROCEPT BioRobotics in the second quarter worth about $311,000. M&G Plc purchased a new position in PROCEPT BioRobotics in the 2nd quarter worth about $8,507,000. KRS Capital Management LLC purchased a new position in PROCEPT BioRobotics in the 2nd quarter worth about $2,817,000. Hennion & Walsh Asset Management Inc. purchased a new position in PROCEPT BioRobotics in the 2nd quarter worth about $284,000. Finally, RiverPark Advisors LLC purchased a new position in PROCEPT BioRobotics in the 2nd quarter worth about $135,000. 89.46% of the stock is currently owned by institutional investors.

Insider Activity at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 36,500 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $76.18, for a total value of $2,780,570.00. Following the completion of the sale, the director now directly owns 281,018 shares in the company, valued at approximately $21,407,951.24. The trade was a 11.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now owns 96,096 shares of the company's stock, valued at approximately $7,928,880.96. This trade represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 552,973 shares of company stock valued at $48,976,847. 17.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday. They issued an "overweight" rating and a $105.00 price target on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday. Truist Financial reissued a "buy" rating and issued a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a "hold" rating and a $95.00 target price on the stock. Finally, TD Cowen lifted their target price on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.86.

PROCEPT BioRobotics Stock Up 3.1 %

Shares of NASDAQ PRCT traded up $2.97 during trading hours on Wednesday, hitting $99.45. The stock had a trading volume of 637,405 shares, compared to its average volume of 654,752. The company has a market capitalization of $5.19 billion, a P/E ratio of -49.48 and a beta of 0.99. The firm's 50-day moving average price is $84.56 and its two-hundred day moving average price is $74.17. PROCEPT BioRobotics Co. has a 52 week low of $36.52 and a 52 week high of $103.81. 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 (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business 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%. The firm's quarterly revenue was up 66.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.51) EPS. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.73 EPS for the current fiscal year.

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).