Commonwealth Equity Services LLC Buys Shares of 2,645 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Commonwealth Equity Services LLC purchased a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,645 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors have also made changes to their positions in PRCT. State Street Corp increased its position in PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after buying an additional 66,175 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of PROCEPT BioRobotics by 8.2% during the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after acquiring an additional 84,244 shares in the last quarter. Franklin Resources Inc. raised its position in shares of PROCEPT BioRobotics by 64.5% in the 3rd 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 during the last quarter. Perpetual Ltd acquired a new stake in PROCEPT BioRobotics in the 4th quarter worth approximately $66,972,000. Finally, Lord Abbett & CO. LLC increased its stake in PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after purchasing an additional 233,430 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.29.

PROCEPT BioRobotics Price Performance

NASDAQ:PRCT opened at $54.68 on Thursday. The firm’s fifty day moving average is $61.64 and its two-hundred day moving average is $75.92. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -28.04 and a beta of 1.09. 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 one year low of $47.04 and a one year high of $103.81.

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

Insider Activity

In related news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 in the last three months. 17.40% of the stock is currently owned by corporate 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).