Vanguard Group Inc. Purchases 297,075 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Vanguard Group Inc. raised its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,140,426 shares of the company's stock after buying an additional 297,075 shares during the period. Vanguard Group Inc. owned about 9.85% of PROCEPT BioRobotics worth $413,907,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its stake in shares of PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock worth $59,974,000 after acquiring an additional 233,430 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of PROCEPT BioRobotics during the fourth quarter valued at $66,972,000. Oak Ridge Investments LLC boosted its position in shares of PROCEPT BioRobotics by 24.0% in the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock valued at $2,420,000 after purchasing an additional 5,817 shares during the period. SG Americas Securities LLC raised its holdings in PROCEPT BioRobotics by 295.8% during the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after buying an additional 4,931 shares during the period. Finally, Chicago Capital LLC lifted its stake in PROCEPT BioRobotics by 44.5% during the fourth quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after buying an additional 116,931 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 0.8 %

PRCT traded down $0.40 on Monday, reaching $50.83. 1,624,843 shares of the company traded hands, compared to its average volume of 766,715. PROCEPT BioRobotics Co. has a 52-week low of $46.99 and a 52-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. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -26.07 and a beta of 1.09. The stock's 50 day moving average price is $63.30 and its 200-day moving average price is $76.69.

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 company had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. On average, sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PRCT shares. Truist Financial restated 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 reduced their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One equities 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.29.

Insider Transactions at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of the company'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 sale, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Reza Zadno sold 5,475 shares of the firm'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 $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock valued at $368,322 in the last three months. Corporate insiders own 17.40% of the company's stock.

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).