Allspring Global Investments Holdings LLC Decreases Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Allspring Global Investments Holdings LLC reduced its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 32.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,139 shares of the company's stock after selling 61,466 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of PROCEPT BioRobotics worth $10,106,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in PROCEPT BioRobotics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company's stock valued at $209,874,000 after acquiring an additional 62,164 shares during the last quarter. Bellevue Group AG lifted its stake in shares of PROCEPT BioRobotics by 0.5% in the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company's stock worth $43,989,000 after acquiring an additional 4,768 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of PROCEPT BioRobotics by 8.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company's stock valued at $31,027,000 after acquiring an additional 51,305 shares in the last quarter. Blair William & Co. IL purchased a new position in PROCEPT BioRobotics during the first quarter worth about $21,240,000. Finally, Driehaus Capital Management LLC lifted its position in PROCEPT BioRobotics by 25.9% in the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company's stock valued at $21,344,000 after purchasing an additional 71,930 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT traded up $1.94 during trading hours on Friday, reaching $68.77. 1,987,239 shares of the company traded hands, compared to its average volume of 608,542. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.51 and a quick ratio of 6.49. The firm's 50-day moving average is $75.86 and its 200-day moving average is $67.14. The stock has a market cap of $3.54 billion, a P/E ratio of -32.44 and a beta of 1.03. PROCEPT BioRobotics Co. has a 1-year low of $24.83 and a 1-year high of $85.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, topping analysts' consensus estimates of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The firm had revenue of $53.35 million during the quarter, compared to analysts' expectations of $50.10 million. During the same quarter last year, the business posted ($0.56) EPS. The firm's quarterly revenue was up 61.2% compared to the same quarter last year. Equities research analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. Piper Sandler reissued an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Finally, Truist Financial boosted their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $86.40.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 35,220 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the transaction, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Kevin Waters sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the transaction, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,892 shares of company stock worth $13,946,415. 17.40% of the stock is owned by 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).