Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 292.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 36,860 shares of the company's stock after buying an additional 27,475 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of PROCEPT BioRobotics worth $3,107,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of PRCT. Raleigh Capital Management Inc. acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. Signaturefd LLC raised its position in PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after buying an additional 145 shares during the period. IFP Advisors Inc purchased a new stake in PROCEPT BioRobotics in the 4th quarter worth about $58,000. Wilmington Savings Fund Society FSB acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth about $64,000. Finally, Arcadia Investment Management Corp MI purchased a new position in PROCEPT BioRobotics during the 4th quarter valued at about $64,000. Institutional investors own 89.46% of the company's stock.
PROCEPT BioRobotics Price Performance
Shares of PRCT traded down $3.55 during mid-day trading on Friday, reaching $51.23. The company had a trading volume of 1,432,785 shares, compared to its average volume of 763,283. The company's 50-day moving average is $63.77 and its 200-day moving average is $76.92. 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 company has a market capitalization of $2.81 billion, a P/E ratio of -26.27 and a beta of 1.09. PROCEPT BioRobotics Co. has a twelve month low of $46.99 and a twelve month high of $103.81.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data 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 for 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%. On average, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.
Insider Transactions at PROCEPT BioRobotics
In related news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 5,475 shares of the company's 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 $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. The trade was a 3.07 % 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 90 days. 17.40% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on PRCT shares. Morgan Stanley dropped 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. Truist Financial reissued a "buy" rating and set a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.29.
Check Out Our Latest Stock Analysis on PRCT
PROCEPT BioRobotics 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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