PROCEPT BioRobotics Co. (NASDAQ:PRCT) Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 290.2% in the 3rd quarter, Holdings Channel reports. The firm owned 68,617 shares of the company’s stock after acquiring an additional 51,030 shares during the quarter. Principal Financial Group Inc.’s holdings in PROCEPT BioRobotics were worth $5,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Values First Advisors Inc. acquired a new position in PROCEPT BioRobotics during the 3rd quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of PROCEPT BioRobotics during the second quarter valued at $36,000. Quest Partners LLC grew its position in shares of PROCEPT BioRobotics by 2,492.3% during the second quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after acquiring an additional 648 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth about $64,000. Finally, Canton Hathaway LLC bought a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $66,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on PRCT. Morgan Stanley assumed coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 target price on the stock. TD Cowen increased their price target on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and a consensus target price of $97.86.

Insider Activity

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the transaction, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. The trade was a 20.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 288,461 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at $23,518,495. The trade was a 52.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 487,816 shares of company stock valued at $44,820,549 over the last three months. Insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Trading Down 0.5 %

Shares of PROCEPT BioRobotics stock opened at $80.52 on Thursday. The business has a fifty day simple moving average of $90.19 and a 200-day simple moving average of $77.07. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -41.29 and a beta of 0.99. PROCEPT BioRobotics Co. has a fifty-two week low of $39.48 and a fifty-two week high of $103.81. 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) last released its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business’s quarterly revenue was up 66.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. On average, equities analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company 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).