Rhenman & Partners Asset Management AB Trims Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Rhenman & Partners Asset Management AB lowered its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 420,345 shares of the company's stock after selling 24,655 shares during the period. PROCEPT BioRobotics comprises about 3.5% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 3rd biggest holding. Rhenman & Partners Asset Management AB owned approximately 0.81% of PROCEPT BioRobotics worth $33,846,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PROCEPT BioRobotics by 34.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,316 shares of the company's stock valued at $1,067,000 after acquiring an additional 3,403 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in PROCEPT BioRobotics by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,460 shares of the company's stock worth $9,331,000 after buying an additional 3,083 shares in the last quarter. Verition Fund Management LLC purchased a new stake in PROCEPT BioRobotics in the third quarter worth about $2,132,000. Centiva Capital LP bought a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $605,000. Finally, HighTower Advisors LLC purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $279,000. Institutional investors own 89.46% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Reza Zadno sold 5,475 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Waters sold 733 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock valued at $368,322 in the last ninety days. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Stock Down 7.0 %

PRCT stock traded down $3.81 during midday trading on Thursday, hitting $50.87. The company's stock had a trading volume of 521,569 shares, compared to its average volume of 771,975. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81. The firm's 50-day moving average is $61.64 and its 200-day moving average is $75.92. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.79 billion, a PE ratio of -26.07 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. On average, equities research analysts forecast 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).