Zurcher Kantonalbank Zurich Cantonalbank Has $1.13 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,968 shares of the company’s stock after buying an additional 652 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PROCEPT BioRobotics were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PRCT. Westfield Capital Management Co. LP bought a new position in PROCEPT BioRobotics in the 3rd quarter valued at 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 holdings in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after purchasing an additional 347,330 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of PROCEPT BioRobotics by 218.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock valued at $33,350,000 after buying an additional 275,071 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 1.4 %

PROCEPT BioRobotics stock opened at $57.80 on Thursday. The firm has a 50 day moving average price of $68.87 and a 200-day moving average price of $78.75. 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 twelve month low of $45.56 and a twelve month high of $103.81. The company has a market capitalization of $3.17 billion, a P/E ratio of -29.64 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data 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). The firm had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. As a group, equities analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Transactions at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares of the company’s stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PRCT shares. Morgan Stanley lowered their target price 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. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Truist Financial restated a “buy” rating and issued a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average price target 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).