JPMorgan Chase & Co. Has $65.09 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

JPMorgan Chase & Co. lessened its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 812,366 shares of the company’s stock after selling 84,381 shares during the period. JPMorgan Chase & Co.’s holdings in PROCEPT BioRobotics were worth $65,087,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lord Abbett & CO. LLC increased its holdings in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after purchasing an additional 233,430 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of PROCEPT BioRobotics by 788.9% during the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after purchasing an additional 162,785 shares during the period. Penserra Capital Management LLC bought a new position in PROCEPT BioRobotics in the third quarter worth approximately $2,308,000. Nicholas Investment Partners LP acquired a new stake in PROCEPT BioRobotics in the second quarter valued at approximately $4,657,000. Finally, Principal Financial Group Inc. raised its position in shares of PROCEPT BioRobotics by 290.2% during the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after purchasing an additional 51,030 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at $23,518,495. This represents a 52.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 28,092 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the sale, the executive vice president now owns 52,472 shares in the company, valued at $5,096,605.36. The trade was a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 487,816 shares of company stock worth $44,820,549. Insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PRCT shares. 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 price target for the company. TD Cowen raised their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley started coverage on PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. One 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.86.

PROCEPT BioRobotics Stock Up 1.4 %

NASDAQ PRCT opened at $84.30 on Friday. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $90.82 and a two-hundred day moving average of $77.27. PROCEPT BioRobotics Co. has a 52 week low of $39.48 and a 52 week high of $103.81. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -43.23 and a beta of 0.99.

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

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).