Principal Financial Group Inc. Raises Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Principal Financial Group Inc. increased its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 137.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,713 shares of the company's stock after purchasing an additional 94,096 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of PROCEPT BioRobotics worth $13,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth approximately $64,000. Canton Hathaway LLC purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $66,000. Nisa Investment Advisors LLC grew its stake in PROCEPT BioRobotics by 178.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock valued at $89,000 after purchasing an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in PROCEPT BioRobotics in the third quarter worth approximately $120,000. Institutional investors own 89.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRCT. Wells Fargo & Company restated an "overweight" rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a "hold" rating and a $95.00 price target for the company. Truist Financial reissued a "buy" rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. Finally, Morgan Stanley cut their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $94.29.

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Insiders Place Their Bets

In other news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the transaction, the executive vice president now owns 52,472 shares of the company's stock, valued at approximately $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 26,423 shares of PROCEPT BioRobotics stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total value of $2,568,844.06. Following the sale, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. The trade was a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Down 1.0 %

PRCT traded down $0.68 during trading hours on Friday, hitting $64.34. 935,200 shares of the company's stock were exchanged, compared to its average volume of 943,432. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The stock's 50-day moving average is $74.60 and its two-hundred day moving average is $79.95. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -32.99 and a beta of 1.03. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) 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 return on equity of 38.57% and a negative net margin of 50.07%. Sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

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).