State Street Corp Raises Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

State Street Corp grew its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,179,514 shares of the company's stock after purchasing an additional 66,175 shares during the quarter. State Street Corp owned approximately 2.26% of PROCEPT BioRobotics worth $94,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. acquired a new position in shares of PROCEPT BioRobotics in the second quarter worth about $284,000. RiverPark Advisors LLC acquired a new stake in PROCEPT BioRobotics in the second quarter worth about $135,000. Legato Capital Management LLC boosted its holdings in shares of PROCEPT BioRobotics by 23.1% in the second quarter. Legato Capital Management LLC now owns 51,670 shares of the company's stock valued at $3,157,000 after acquiring an additional 9,701 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PROCEPT BioRobotics by 4.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company's stock worth $606,000 after acquiring an additional 408 shares during the period. Finally, nVerses Capital LLC grew its stake in shares of PROCEPT BioRobotics by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company's stock worth $147,000 after purchasing an additional 1,800 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRCT. Morgan Stanley started 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. Piper Sandler restated an "overweight" rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Truist Financial reaffirmed a "buy" rating and set a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Wells Fargo & Company restated an "overweight" rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, TD Cowen upped 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.86.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 26,420 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $97.83, for a total value of $2,584,668.60. Following the completion of the sale, the chief executive officer now owns 179,185 shares in the company, valued at $17,529,668.55. This represents a 12.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 20.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,816 shares of company stock worth $44,820,549. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock traded down $0.86 on Tuesday, reaching $88.56. The stock had a trading volume of 525,966 shares, compared to its average volume of 648,289. PROCEPT BioRobotics Co. has a 12 month low of $39.48 and a 12 month high of $103.81. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -44.99 and a beta of 0.99. The firm's 50-day moving average is $87.44 and its two-hundred day moving average is $75.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same period in the prior year, the company posted ($0.51) EPS. The company's revenue was up 66.4% compared to the same quarter last year. On average, research analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).