PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 14.7% in the 4th quarter, HoldingsChannel reports. The fund owned 12,504 shares of the company’s stock after acquiring an additional 1,602 shares during the period. Arizona State Retirement System’s holdings in PROCEPT BioRobotics were worth $524,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PRCT. JPMorgan Chase & Co. grew its stake in shares of PROCEPT BioRobotics by 18.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,353 shares of the company’s stock valued at $188,000 after buying an additional 825 shares during the period. Bank of New York Mellon Corp boosted its position in PROCEPT BioRobotics by 59.8% in the 1st quarter. Bank of New York Mellon Corp now owns 22,079 shares of the company’s stock valued at $772,000 after buying an additional 8,265 shares during the last quarter. MetLife Investment Management LLC purchased a new position in PROCEPT BioRobotics in the 1st quarter valued at about $175,000. Rhumbline Advisers purchased a new position in PROCEPT BioRobotics in the 1st quarter valued at about $253,000. Finally, BlackRock Inc. boosted its position in PROCEPT BioRobotics by 9.8% in the 1st quarter. BlackRock Inc. now owns 352,791 shares of the company’s stock valued at $12,344,000 after buying an additional 31,486 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRCT has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial raised their target price on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.60.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 1,024 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $50,001.92. Following the transaction, the chief financial officer now directly owns 102,149 shares in the company, valued at approximately $4,987,935.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 1,024 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $50,001.92. Following the transaction, the chief financial officer now directly owns 102,149 shares in the company, valued at approximately $4,987,935.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alaleh Nouri sold 5,306 shares of PROCEPT BioRobotics stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total transaction of $265,034.70. Following the transaction, the executive vice president now owns 47,351 shares in the company, valued at $2,365,182.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,149 shares of company stock worth $4,653,720. 19.60% of the stock is owned by insiders.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $50.19 on Friday. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $54.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. The firm has a market capitalization of $2.56 billion, a PE ratio of -22.41 and a beta of 1.01. The company’s 50 day simple moving average is $49.08 and its 200 day simple moving average is $41.86.

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

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).