Harbor Capital Advisors Inc. Has $1.13 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Harbor Capital Advisors Inc. lowered its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 62.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,995 shares of the company’s stock after selling 23,519 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in PROCEPT BioRobotics were worth $1,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in PROCEPT BioRobotics by 5.9% in the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PROCEPT BioRobotics by 8.2% in the 3rd 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 during the period. Westfield Capital Management Co. LP bought a new position in PROCEPT BioRobotics during the 3rd quarter worth approximately $72,563,000. Franklin Resources Inc. grew its holdings in PROCEPT BioRobotics by 64.5% during 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 during the period. Finally, Lord Abbett & CO. LLC increased its stake 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 purchasing an additional 233,430 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, 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. This represents a 34.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $6,964,077.12. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,816 shares of company stock worth $44,820,549. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Trading Up 0.5 %

NASDAQ:PRCT opened at $86.85 on Monday. The company has a market cap of $4.53 billion, a P/E ratio of -44.54 and a beta of 1.05. PROCEPT BioRobotics Co. has a twelve month low of $44.02 and a twelve month high of $103.81. The business has a 50 day moving average price of $90.28 and a two-hundred day moving average price of $78.33. 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 issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same period in the previous year, the business earned ($0.51) EPS. The company’s revenue was up 66.4% compared to the same quarter last year. As a group, analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRCT. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Truist Financial restated a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Morgan Stanley assumed coverage on PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 target price for the company. Finally, TD Cowen lifted their price target on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.86.

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).