Franklin Resources Inc. Has $86.43 Million Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Franklin Resources Inc. raised its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,073,398 shares of the company's stock after buying an additional 187,406 shares during the quarter. Franklin Resources Inc. owned 2.06% of PROCEPT BioRobotics worth $86,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $32,000. Signaturefd LLC grew its stake in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after buying an additional 145 shares in the last quarter. IFP Advisors Inc acquired a new position in PROCEPT BioRobotics in the fourth quarter worth approximately $58,000. Arcadia Investment Management Corp MI bought a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $64,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $64,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRCT. Truist Financial restated a "buy" rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley cut 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.

Insider Activity at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock worth $368,322 over the last 90 days. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT traded down $1.26 during trading on Monday, hitting $49.97. The company's stock had a trading volume of 616,284 shares, compared to its average volume of 762,830. PROCEPT BioRobotics Co. has a 52 week low of $46.99 and a 52 week high of $103.81. The firm has a market cap of $2.74 billion, a P/E ratio of -25.50 and a beta of 1.09. The firm has a 50 day moving average price of $63.77 and a 200 day moving average price of $76.92. 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 (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million during 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%. Equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal 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).