PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 45.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 748,555 shares of the company's stock after purchasing an additional 233,430 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.43% of PROCEPT BioRobotics worth $59,974,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PRCT. Westfield Capital Management Co. LP acquired a new position in PROCEPT BioRobotics in the third quarter valued at $72,563,000. Franklin Resources Inc. grew its holdings in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after purchasing an additional 347,330 shares during the period. Chicago Capital LLC acquired a new stake in PROCEPT BioRobotics during the 2nd quarter worth approximately $14,233,000. Federated Hermes Inc. raised its holdings in PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company's stock valued at $11,205,000 after buying an additional 162,785 shares during the period. Finally, Transatlantique Private Wealth LLC acquired a new position in PROCEPT BioRobotics during the second quarter valued at approximately $9,164,000. Institutional investors and hedge funds own 89.46% of the company's stock.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the sale, the executive vice president now directly owns 52,472 shares of the company's stock, valued at $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Reza Zadno sold 288,461 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company's stock, valued at approximately $23,518,495. This trade represents a 52.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 512,816 shares of company stock worth $46,883,299. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Down 0.6 %

Shares of PRCT traded down $0.57 during midday trading on Friday, hitting $89.24. The company had a trading volume of 488,001 shares, compared to its average volume of 649,599. The company's 50 day moving average price is $87.04 and its 200 day moving average price is $75.63. PROCEPT BioRobotics Co. has a 52 week low of $39.48 and a 52 week high of $103.81. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -45.76 and a beta of 0.99. The company has a quick ratio of 5.07, a current ratio of 6.02 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, beating analysts' consensus estimates of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business's quarterly revenue was up 66.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) EPS. On average, equities research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Piper Sandler reissued an "overweight" rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. Morgan Stanley initiated coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an "overweight" rating and a $105.00 price objective on the stock. Jefferies Financial Group started coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price for the company. Finally, Bank of America lifted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, August 22nd. One equities 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 stock has an average rating of "Moderate Buy" and a consensus target price of $97.86.

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).