Principal Financial Group Inc. Increases Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Principal Financial Group Inc. increased its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 290.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,617 shares of the company's stock after buying an additional 51,030 shares during the period. Principal Financial Group Inc. owned 0.13% of PROCEPT BioRobotics worth $5,498,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of PROCEPT BioRobotics by 35.9% during the first quarter. Sei Investments Co. now owns 22,777 shares of the company's stock valued at $1,126,000 after purchasing an additional 6,011 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of PROCEPT BioRobotics by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,250 shares of the company's stock valued at $358,000 after purchasing an additional 570 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company's stock valued at $209,874,000 after purchasing an additional 62,164 shares in the last quarter. Bellevue Group AG increased its stake in shares of PROCEPT BioRobotics by 0.5% during the first quarter. Bellevue Group AG now owns 890,114 shares of the company's stock valued at $43,989,000 after purchasing an additional 4,768 shares in the last quarter. Finally, Castleark Management LLC bought a new position in shares of PROCEPT BioRobotics during the first quarter valued at approximately $2,841,000. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $92.70 on Thursday. The company's fifty day simple moving average is $81.88 and its 200-day simple moving average is $72.08. PROCEPT BioRobotics Co. has a 1-year low of $31.57 and a 1-year high of $103.81. 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 issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million for the quarter, compared to analysts' expectations of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company's revenue was up 66.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.51) EPS. On average, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current year.

Analyst Ratings Changes

PRCT has been the topic of a number of recent analyst reports. Bank of America increased their price target 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. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They set a "hold" rating and a $95.00 price target on the stock. TD Cowen increased their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a report on Monday, September 16th. Finally, Piper Sandler reiterated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $89.50.

Insider Transactions at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 35,220 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the sale, the director now directly owns 23,963 shares in the company, valued at $1,824,063.56. This trade represents a 59.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now owns 96,096 shares in the company, valued at $6,964,077.12. The trade was a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 535,353 shares of company stock worth $46,627,426 in the last 90 days. 17.40% of the stock is currently 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).