Vanguard Group Inc. Has $413.91 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Vanguard Group Inc. increased its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 6.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,140,426 shares of the company’s stock after buying an additional 297,075 shares during the period. Vanguard Group Inc. owned approximately 0.10% of PROCEPT BioRobotics worth $413,907,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Perpetual Ltd bought a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $66,972,000. Franklin Resources Inc. increased its position in shares of PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after buying an additional 347,330 shares during the period. Allspring Global Investments Holdings LLC raised its stake in PROCEPT BioRobotics by 218.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock worth $33,350,000 after buying an additional 275,071 shares during the last quarter. Lord Abbett & CO. LLC lifted 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 valued at $59,974,000 after buying an additional 233,430 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in PROCEPT BioRobotics during the third quarter valued at $11,890,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Up 1.1 %

PRCT stock opened at $57.74 on Thursday. The stock’s 50 day simple moving average is $64.52 and its 200 day simple moving average is $77.35. The company has a market cap of $3.17 billion, a P/E ratio of -29.61 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. PROCEPT BioRobotics Co. has a fifty-two week low of $45.56 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. On average, research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRCT. 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. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $94.29.

Insider Activity

In other news, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 completion of the sale, the chief executive officer now owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 over the last three months. 17.40% of the stock is currently owned by insiders.

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).