Raymond James Financial Inc. Invests $1.65 Million in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Raymond James Financial Inc. bought a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,453 shares of the company's stock, valued at approximately $1,647,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arizona State Retirement System raised its holdings in PROCEPT BioRobotics by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,285 shares of the company's stock valued at $1,150,000 after acquiring an additional 218 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $420,000. Assetmark Inc. purchased a new position in PROCEPT BioRobotics during the fourth quarter worth approximately $667,000. Charles Schwab Investment Management Inc. boosted its stake in PROCEPT BioRobotics by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,434 shares of the company's stock worth $34,336,000 after buying an additional 23,869 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in PROCEPT BioRobotics by 183.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 12,980 shares of the company's stock valued at $1,045,000 after buying an additional 8,399 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

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 debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The business has a 50 day simple moving average of $63.77 and a 200 day simple moving average of $76.92. PROCEPT BioRobotics Co. has a twelve month low of $46.99 and a twelve month high of $103.81. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -26.27 and a beta of 1.09.

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

Insider Activity

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the business's 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 directly owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction 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 owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 in the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PRCT has been the topic of several analyst reports. Truist Financial reiterated a "buy" rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a report on Wednesday, February 26th. Morgan Stanley decreased their target price 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.

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).