Federated Hermes Inc. increased its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 658,130 shares of the company's stock after acquiring an additional 151,904 shares during the period. Federated Hermes Inc. owned about 1.26% of PROCEPT BioRobotics worth $52,993,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Lord Abbett & CO. LLC grew its stake in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock valued at $59,974,000 after purchasing an additional 233,430 shares in the last quarter. Perpetual Ltd bought a new stake in PROCEPT BioRobotics during the fourth quarter valued at about $66,972,000. Oak Ridge Investments LLC grew its holdings in PROCEPT BioRobotics by 24.0% in the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock valued at $2,420,000 after buying an additional 5,817 shares during the last quarter. SG Americas Securities LLC increased its position in PROCEPT BioRobotics by 295.8% during the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after acquiring an additional 4,931 shares during the period. Finally, Chicago Capital LLC raised its stake in PROCEPT BioRobotics by 44.5% during the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after purchasing an additional 116,931 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PRCT has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday. 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 research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.43.
Read Our Latest Stock Report on PRCT
Insider Activity
In other news, CFO Kevin Waters sold 733 shares of the firm's 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 in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,455 shares of company stock worth $368,322. Insiders own 17.40% of the company's stock.
PROCEPT BioRobotics Price Performance
Shares of PROCEPT BioRobotics stock traded up $1.34 during trading on Friday, hitting $52.07. 657,785 shares of the company's stock traded hands, compared to its average volume of 777,729. The company has a market cap of $2.85 billion, a PE ratio of -26.70 and a beta of 1.09. The firm's fifty day moving average price is $60.84 and its 200 day moving average price is $75.50. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly 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 company had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. Analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.
PROCEPT BioRobotics Company Profile
(
Free Report)
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).
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