Massachusetts Financial Services Co. MA cut its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,556 shares of the company's stock after selling 32,339 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.70% of PROCEPT BioRobotics worth $29,449,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Values First Advisors Inc. purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $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 stake 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 purchasing an additional 648 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company's stock worth $89,000 after purchasing an additional 713 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of PROCEPT BioRobotics in the third quarter valued at $120,000. Institutional investors and hedge funds own 89.46% of the company's stock.
PROCEPT BioRobotics Stock Performance
Shares of NASDAQ:PRCT traded up $1.49 during trading on Tuesday, reaching $99.27. 635,186 shares of the company's stock traded hands, compared to its average volume of 656,999. 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 company has a 50 day moving average of $82.73 and a 200-day moving average of $72.86. PROCEPT BioRobotics Co. has a 12 month low of $33.45 and a 12 month high of $103.81. The stock has a market capitalization of $5.18 billion, a P/E ratio of -50.14 and a beta of 1.01.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.09. The business had revenue of $58.40 million for the quarter, compared to analysts' expectations 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 prior year, the firm earned ($0.51) EPS. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.74 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Bank of America boosted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Wells Fargo & Company increased their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price on the stock. Finally, Truist Financial reissued a "buy" rating and set a $105.00 price target (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.50.
View Our Latest Stock Report on PRCT
Insider Buying and Selling
In related news, CEO Reza Zadno sold 288,461 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total value of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares in the company, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 44,867 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $80.11, for a total value of $3,594,295.37. Following the completion of the transaction, the director now directly owns 197,453 shares of the company's stock, valued at approximately $15,817,959.83. The trade was a 18.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,773 shares of company stock valued at $49,073,125 in the last quarter. Company insiders own 17.40% of the company's stock.
PROCEPT BioRobotics Profile
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Free Report)
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).
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