JPMorgan Chase & Co. Sells 197,200 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

JPMorgan Chase & Co. trimmed its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 615,166 shares of the company's stock after selling 197,200 shares during the quarter. JPMorgan Chase & Co. owned about 1.18% of PROCEPT BioRobotics worth $49,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock valued at $413,907,000 after purchasing an additional 297,075 shares in the last quarter. State Street Corp lifted its holdings in shares of PROCEPT BioRobotics by 5.9% in the third quarter. State Street Corp now owns 1,179,514 shares of the company's stock valued at $94,503,000 after purchasing an additional 66,175 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PROCEPT BioRobotics by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company's stock valued at $88,678,000 after purchasing an additional 84,244 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of PROCEPT BioRobotics by 64.5% in the third 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 in the last quarter. Finally, Perpetual Ltd purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth $66,972,000. 89.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction that occurred on 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 owns 173,070 shares in the company, valued at approximately $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 accessible through this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. This trade represents 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 worth $368,322 over the last quarter. Company insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Performance

PRCT stock traded down $3.29 during trading on Thursday, reaching $51.39. 204,223 shares of the stock were exchanged, compared to its average volume of 953,400. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The company has a market capitalization of $2.82 billion, a P/E ratio of -26.35 and a beta of 1.09. The stock has a 50 day simple moving average of $61.64 and a 200-day simple moving average of $75.92. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS 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 the consensus estimate 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, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on PRCT shares. Morgan Stanley cut their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Truist Financial reaffirmed a "buy" rating and issued a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.29.

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).