Artisan Partners Limited Partnership Sells 24,712 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Artisan Partners Limited Partnership reduced its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 425,717 shares of the company’s stock after selling 24,712 shares during the quarter. Artisan Partners Limited Partnership’s holdings in PROCEPT BioRobotics were worth $34,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at $32,000. Signaturefd LLC raised its position in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc bought a new position in PROCEPT BioRobotics in the 4th quarter worth about $58,000. Wilmington Savings Fund Society FSB purchased a new stake in PROCEPT BioRobotics during the 3rd quarter valued at about $64,000. Finally, Arcadia Investment Management Corp MI bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Trading Down 2.8 %

Shares of PRCT stock opened at $60.05 on Friday. The stock has a market capitalization of $3.29 billion, a P/E ratio of -30.79 and a beta of 1.05. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $65.34 and its 200 day moving average is $77.81. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data 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 firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. Research analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Transactions at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics 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 transaction, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 in the last quarter. Company insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRCT shares. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial reaffirmed 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. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. One research 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $94.29.

PROCEPT BioRobotics Profile

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).