Massachusetts Financial Services Co. MA Sells 28,729 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Massachusetts Financial Services Co. MA cut its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338,827 shares of the company's stock after selling 28,729 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.65% of PROCEPT BioRobotics worth $27,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRCT. Perpetual Ltd bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $66,972,000. Wellington Management Group LLP grew its position in PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock worth $120,051,000 after buying an additional 416,819 shares during the last quarter. Franklin Resources Inc. increased 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 buying an additional 347,330 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 297,075 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company's stock worth $33,350,000 after acquiring an additional 275,071 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRCT has been the topic of a number of recent analyst reports. Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley cut their price objective 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 stock. According to data from MarketBeat, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and a consensus target price of $91.43.

PROCEPT BioRobotics Stock Up 2.6 %

PROCEPT BioRobotics stock traded up $1.34 during mid-day trading on Friday, hitting $52.07. The company's stock had a trading volume of 657,785 shares, compared to its average volume of 776,302. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81. The company has a market cap of $2.85 billion, a PE ratio of -26.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm's 50 day moving average is $61.23 and its 200 day moving average is $75.72.

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 analysts' consensus estimates of ($0.34) by ($0.01). The company had revenue of $68.24 million during the quarter, compared to analysts' expectations of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the business's stock in a transaction dated 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 owns 173,070 shares in the company, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 733 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 in the last quarter. 17.40% of the stock is currently owned by corporate insiders.

PROCEPT BioRobotics 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).