State Street Corp Increases Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

State Street Corp lifted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,179,514 shares of the company’s stock after buying an additional 66,175 shares during the quarter. State Street Corp owned 2.26% of PROCEPT BioRobotics worth $94,503,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Federated Hermes Inc. grew its stake in PROCEPT BioRobotics by 788.9% during the 2nd 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 in the last quarter. Nicholas Investment Partners LP acquired a new stake in PROCEPT BioRobotics during the 2nd quarter valued at approximately $4,657,000. Penserra Capital Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $2,308,000. Principal Financial Group Inc. grew its stake in PROCEPT BioRobotics by 290.2% during the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after purchasing an additional 51,030 shares in the last quarter. Finally, Chicago Capital LLC grew its stake in PROCEPT BioRobotics by 12.7% during the 3rd quarter. Chicago Capital LLC now owns 262,651 shares of the company’s stock valued at $21,044,000 after purchasing an additional 29,668 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Up 0.2 %

NASDAQ:PRCT opened at $89.42 on Tuesday. PROCEPT BioRobotics Co. has a 12-month low of $39.48 and a 12-month high of $103.81. The firm has a market capitalization of $4.67 billion, a P/E ratio of -45.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50 day simple moving average of $87.44 and a 200 day simple moving average of $75.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter in the previous year, the firm posted ($0.51) EPS. The business’s revenue for the quarter was up 66.4% compared to the same quarter last year. Equities research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Analyst Ratings Changes

PRCT has been the subject of a number of recent analyst reports. TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Morgan Stanley began coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price for the company. Finally, Jefferies Financial Group began coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price for the company. One investment 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 target price of $97.86.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction 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 of the company’s stock, valued at $5,096,605.36. The trade was a 34.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reza Zadno sold 26,423 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total value of $2,568,844.06. Following the sale, the chief executive officer now directly owns 152,762 shares in the company, valued at $14,851,521.64. The trade was a 14.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 487,816 shares of company stock worth $44,820,549 in the last 90 days. 17.40% of the stock is currently owned by company 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).