Principal Financial Group Inc. Acquires 51,030 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Principal Financial Group Inc. grew its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 290.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 68,617 shares of the company's stock after purchasing an additional 51,030 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of PROCEPT BioRobotics worth $5,498,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new position in PROCEPT BioRobotics in the third quarter worth $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of PROCEPT BioRobotics during the second quarter valued at approximately $36,000. Quest Partners LLC raised its holdings in shares of PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company's stock valued at $41,000 after acquiring an additional 648 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock valued at $89,000 after acquiring an additional 713 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in PROCEPT BioRobotics during the 3rd quarter valued at about $120,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 288,461 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares of the company's stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 34,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total value of $3,243,260.00. Following the sale, the director now owns 164,363 shares of the company's stock, valued at approximately $15,678,586.57. This represents a 17.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 535,353 shares of company stock worth $46,627,426 over the last 90 days. 17.40% of the stock is owned by insiders.

PROCEPT BioRobotics Trading Up 2.0 %

NASDAQ:PRCT traded up $1.82 during trading hours on Thursday, hitting $94.52. 194,466 shares of the stock traded hands, compared to its average volume of 657,886. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two week high of $103.81. 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 has a 50 day moving average price of $81.88 and a 200 day moving average price of $72.08.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data 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. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million during the quarter, compared to analysts' expectations of $53.30 million. During the same quarter in the previous year, the firm earned ($0.51) EPS. The firm's revenue was up 66.4% compared to the same quarter last year. As a group, equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRCT. 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. Truist Financial restated a "buy" rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Bank of America lifted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. Finally, TD Cowen increased their price objective 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.50.

PROCEPT BioRobotics Company 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).