Alliancebernstein L.P. Raises Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Alliancebernstein L.P. raised its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,752,478 shares of the company's stock after acquiring an additional 218,148 shares during the quarter. Alliancebernstein L.P. owned approximately 3.36% of PROCEPT BioRobotics worth $141,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PRCT. Perpetual Ltd bought a new stake in PROCEPT BioRobotics during the fourth quarter valued at about $66,972,000. Wellington Management Group LLP grew its stake in shares of PROCEPT BioRobotics by 38.8% during the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after acquiring an additional 416,819 shares during the period. Franklin Resources Inc. increased its holdings in PROCEPT BioRobotics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Vanguard Group Inc. raised its stake in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock worth $413,907,000 after acquiring an additional 297,075 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in PROCEPT BioRobotics by 218.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company's stock valued at $33,350,000 after purchasing an additional 275,071 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT traded down $3.55 during mid-day trading on Friday, reaching $51.23. The stock had a trading volume of 1,432,785 shares, compared to its average volume of 763,283. The company has a market cap of $2.81 billion, a P/E ratio of -26.27 and a beta of 1.09. The business's 50 day moving average price is $63.77 and its 200 day moving average price is $76.98. 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 Co. has a 1 year low of $46.99 and a 1 year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. Research analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial restated a "buy" rating and set a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.

Insider Activity

In related news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is currently owned by corporate insiders.

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).