abrdn plc Has $4.44 Million Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

abrdn plc cut its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,000 shares of the company’s stock after selling 3,944 shares during the period. abrdn plc’s holdings in PROCEPT BioRobotics were worth $4,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after buying an additional 620 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new position in PROCEPT BioRobotics during the fourth quarter worth $138,000. Amalgamated Bank boosted its position in PROCEPT BioRobotics by 8.8% during the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock worth $180,000 after purchasing an additional 442 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PROCEPT BioRobotics by 23.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,721 shares of the company’s stock worth $286,000 after purchasing an additional 1,684 shares during the period. Finally, M&T Bank Corp bought a new position in PROCEPT BioRobotics during the third quarter worth $293,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PRCT. Truist Financial lifted their price objective on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Wells Fargo & Company lifted their price objective 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $45.60.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $51.83 on Friday. The firm has a 50-day moving average of $49.33 and a 200-day moving average of $42.60. PROCEPT BioRobotics Co. has a 52-week low of $24.83 and a 52-week high of $54.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77.

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

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 904 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total transaction of $45,200.00. Following the sale, the chief financial officer now directly owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,391 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $48.83, for a total transaction of $263,242.53. Following the sale, the chief executive officer now directly owns 241,319 shares in the company, valued at $11,783,606.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Waters sold 904 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the transaction, the chief financial officer now directly owns 33,523 shares of the company’s stock, valued at approximately $1,676,150. The disclosure for this sale can be found here. Insiders have sold 94,149 shares of company stock worth $4,653,720 over the last ninety days. Corporate 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).