PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Bought by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 239,285 shares of the company's stock after purchasing an additional 26,783 shares during the quarter. William Blair Investment Management LLC owned about 0.46% of PROCEPT BioRobotics worth $19,267,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Westfield Capital Management Co. LP purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth about $72,563,000. Perpetual Ltd purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $66,972,000. Franklin Resources Inc. lifted its stake in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after acquiring an additional 347,330 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company's stock worth $33,350,000 after acquiring an additional 275,071 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in PROCEPT BioRobotics by 45.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock valued at $59,974,000 after acquiring an additional 233,430 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Up 4.8 %

Shares of PRCT stock traded up $2.80 on Monday, hitting $60.90. The stock had a trading volume of 763,891 shares, compared to its average volume of 727,480. 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 Co. has a one year low of $45.56 and a one year high of $103.81. The business has a 50 day moving average price of $67.15 and a 200 day moving average price of $78.36. The company has a market cap of $3.34 billion, a PE ratio of -31.23 and a beta of 1.05.

Remove Ads

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

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the business'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 $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated Tuesday, March 18th. The shares were 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 of the company's stock, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 over the last 90 days. Company insiders own 17.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRCT shares. Wells Fargo & Company reiterated an "overweight" rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Morgan Stanley decreased 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. Finally, Truist Financial reissued a "buy" rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.29.

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).