Wellington Management Group LLP Acquires 416,819 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Wellington Management Group LLP increased its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 38.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,490,952 shares of the company's stock after acquiring an additional 416,819 shares during the quarter. Wellington Management Group LLP owned about 2.72% of PROCEPT BioRobotics worth $120,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Biondo Investment Advisors LLC increased its stake in shares of PROCEPT BioRobotics by 12.9% in the fourth quarter. Biondo Investment Advisors LLC now owns 115,970 shares of the company's stock worth $9,338,000 after purchasing an additional 13,260 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in PROCEPT BioRobotics in the 4th quarter worth $530,000. Pictet Asset Management Holding SA increased its stake in PROCEPT BioRobotics by 27.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 9,326 shares of the company's stock worth $751,000 after buying an additional 1,991 shares in the last quarter. WINTON GROUP Ltd bought a new stake in PROCEPT BioRobotics during the fourth quarter valued at about $207,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of PROCEPT BioRobotics by 292.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,860 shares of the company's stock valued at $3,107,000 after acquiring an additional 27,475 shares in the last quarter. Institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT traded up $0.67 during trading on Tuesday, hitting $51.50. 147,224 shares of the stock traded hands, compared to its average volume of 764,378. The company has a market capitalization of $2.82 billion, a P/E ratio of -26.24 and a beta of 1.09. PROCEPT BioRobotics Co. has a 12-month low of $46.99 and a 12-month high of $103.81. The firm has a 50-day simple moving average of $63.30 and a 200-day simple moving average of $76.69. 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 quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $68.24 million for the quarter, compared to analysts' expectations of $66.79 million. As a group, analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Activity

In other news, CFO Kevin Waters sold 733 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction 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 represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,455 shares of company stock valued at $368,322. 17.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

PRCT has been the subject of several research analyst reports. Truist Financial reiterated a "buy" rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One 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, the company has a consensus rating of "Moderate Buy" and an average price target of $94.29.

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).