Wells Fargo & Company MN Sells 11,762 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Wells Fargo & Company MN lowered its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,125 shares of the company's stock after selling 11,762 shares during the quarter. Wells Fargo & Company MN owned 0.12% of PROCEPT BioRobotics worth $4,922,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRCT. Raleigh Capital Management Inc. acquired a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $32,000. Signaturefd LLC raised its holdings in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after acquiring an additional 145 shares during the period. IFP Advisors Inc bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at $58,000. Wilmington Savings Fund Society FSB bought a new position in PROCEPT BioRobotics during the 3rd quarter worth about $64,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at about $64,000. Institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Performance

PRCT stock traded down $2.45 during trading hours on Friday, reaching $50.12. The stock had a trading volume of 777,637 shares, compared to its average volume of 803,253. The stock has a market capitalization of $2.75 billion, a PE ratio of -25.66 and a beta of 1.09. The stock has a 50-day simple moving average of $58.33 and a 200 day simple moving average of $74.25. PROCEPT BioRobotics Co. has a fifty-two week low of $47.04 and a fifty-two week high of $103.81. 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 (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The business had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRCT. Morgan Stanley dropped their target price 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. Truist Financial cut their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Bank of America reduced their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

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).