Wellington Management Group LLP Sells 44,509 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Wellington Management Group LLP lessened its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,074,133 shares of the company's stock after selling 44,509 shares during the quarter. Wellington Management Group LLP owned about 2.06% of PROCEPT BioRobotics worth $86,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $72,563,000. Chicago Capital LLC acquired a new position in PROCEPT BioRobotics in the second quarter worth approximately $14,233,000. Federated Hermes Inc. increased its holdings in shares of PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company's stock valued at $11,205,000 after buying an additional 162,785 shares in the last quarter. Transatlantique Private Wealth LLC acquired a new stake in shares of PROCEPT BioRobotics during the 2nd quarter valued at $9,164,000. Finally, Point72 DIFC Ltd bought a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth $11,890,000. Institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 0.6 %

PRCT traded down $0.56 on Wednesday, reaching $90.61. 434,172 shares of the company traded hands, compared to its average volume of 651,214. PROCEPT BioRobotics Co. has a 52-week low of $38.01 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 $4.73 billion, a price-to-earnings ratio of -46.75 and a beta of 1.00. The stock's 50 day moving average price is $86.10 and its 200-day moving average price is $75.11.

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

Insider Activity

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total value of $2,728,575.96. Following the completion of the sale, the executive vice president now owns 52,472 shares of the company's stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Antal Rohit Desai sold 44,867 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $80.11, for a total value of $3,594,295.37. Following the transaction, the director now directly owns 197,453 shares in the company, valued at approximately $15,817,959.83. This represents a 18.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 557,683 shares of company stock worth $50,477,594 in the last three months. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen upped their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 target price on the stock. Bank of America upped their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Finally, Truist Financial reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.86.

About PROCEPT BioRobotics

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).