PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock Position Increased by State Street Corp

State Street Corp lifted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCTFree Report) by 5.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,179,514 shares of the company’s stock after buying an additional 66,175 shares during the period. State Street Corp’s holdings in PROCEPT BioRobotics were worth $94,503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $11,890,000. HighTower Advisors LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $279,000. Centiva Capital LP bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $605,000. Eventide Asset Management LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $10,335,000. Finally, Verition Fund Management LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $2,132,000. Institutional investors own 89.46% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Reza Zadno sold 288,461 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. This represents a 52.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. The trade was a 20.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,816 shares of company stock valued at $44,820,549 in the last three months. Insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Get Our Latest Analysis on PROCEPT BioRobotics

PROCEPT BioRobotics Stock Up 0.2 %

NASDAQ:PRCT opened at $89.42 on Tuesday. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -45.86 and a beta of 0.99. PROCEPT BioRobotics Co. has a 1-year low of $39.48 and a 1-year high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $87.44 and its 200 day moving average price is $75.81.

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

About PROCEPT BioRobotics

(Free Report)

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).

See Also

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Institutional Ownership by Quarter for PROCEPT BioRobotics (NASDAQ:PRCT)

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