abrdn plc Sells 7,081 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

abrdn plc cut its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,277 shares of the company's stock after selling 7,081 shares during the quarter. abrdn plc owned 0.13% of PROCEPT BioRobotics worth $5,689,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PRCT. Westfield Capital Management Co. LP purchased a new stake in PROCEPT BioRobotics during the third quarter valued at about $72,563,000. Perpetual Ltd purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $66,972,000. Franklin Resources Inc. lifted its position in shares of PROCEPT BioRobotics by 64.5% in the third 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 in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock worth $59,974,000 after purchasing an additional 233,430 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of PROCEPT BioRobotics in the third quarter worth approximately $11,890,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRCT has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an "overweight" rating and a $105.00 price target for the company. Truist Financial reissued a "buy" rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Wells Fargo & Company reissued an "overweight" rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.86.

PROCEPT BioRobotics Stock Up 0.3 %

PRCT traded up $0.23 during midday trading on Wednesday, hitting $66.23. 912,713 shares of the company's stock traded hands, compared to its average volume of 855,425. The company has a market cap of $3.46 billion, a PE ratio of -33.96 and a beta of 1.03. The stock's fifty day simple moving average is $80.04 and its 200-day simple moving average is $79.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a one year low of $45.20 and a one year high of $103.81.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 28,092 shares of the firm's stock in a transaction on 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 sale, the executive vice president now owns 52,472 shares in the company, valued at approximately $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 26,420 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the completion of the sale, the chief executive officer now owns 205,605 shares in the company, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,355 shares of company stock worth $10,327,788 over the last 90 days. Insiders own 17.40% of the company's stock.

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).