Allspring Global Investments Holdings LLC Sells 761,589 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Allspring Global Investments Holdings LLC decreased its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 82.5% during the 4th quarter, HoldingsChannel reports. The fund owned 161,848 shares of the company’s stock after selling 761,589 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PROCEPT BioRobotics were worth $6,783,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of PROCEPT BioRobotics in the third quarter valued at approximately $26,404,000. Vanguard Group Inc. boosted its stake in shares of PROCEPT BioRobotics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock worth $133,697,000 after buying an additional 385,271 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of PROCEPT BioRobotics by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 655,295 shares of the company’s stock valued at $21,500,000 after acquiring an additional 81,534 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $583,000. Finally, Barclays PLC increased its position in shares of PROCEPT BioRobotics by 225.3% in the third quarter. Barclays PLC now owns 51,613 shares of the company’s stock valued at $1,692,000 after acquiring an additional 35,746 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Down 0.4 %

PRCT stock opened at $51.79 on Thursday. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $54.50. The company has a fifty day moving average price of $49.04 and a two-hundred day moving average price of $41.67. The company has a quick ratio of 6.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.18.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.10). PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The company had revenue of $43.58 million for the quarter, compared to the consensus estimate of $41.79 million. During the same period in the previous year, the firm posted ($0.56) EPS. The business’s quarterly revenue was up 83.3% on a year-over-year basis. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRCT shares. Truist Financial raised their price target on PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $45.60.

Insider Transactions at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 904 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the transaction, the chief financial officer now owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total value of $45,200.00. Following the transaction, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,676,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reza Zadno sold 9,179 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $428,383.93. Following the transaction, the chief executive officer now directly owns 246,710 shares in the company, valued at $11,513,955.70. The disclosure for this sale can be found here. Insiders sold a total of 94,149 shares of company stock worth $4,653,720 over the last quarter. Company insiders own 19.60% of the company’s stock.

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).