M&T Bank Corp Boosts Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

M&T Bank Corp boosted its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,513 shares of the company’s stock after purchasing an additional 1,591 shares during the quarter. M&T Bank Corp’s holdings in PROCEPT BioRobotics were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PRCT. FMR LLC lifted its holdings in shares of PROCEPT BioRobotics by 13.0% in the 3rd quarter. FMR LLC now owns 7,553,460 shares of the company’s stock valued at $247,829,000 after acquiring an additional 870,364 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $26,404,000. Loomis Sayles & Co. L P increased its position in shares of PROCEPT BioRobotics by 89.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,345,454 shares of the company’s stock valued at $44,144,000 after purchasing an additional 636,750 shares during the last quarter. Vanguard Group Inc. raised its holdings in PROCEPT BioRobotics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after buying an additional 385,271 shares during the period. Finally, Braidwell LP bought a new stake in PROCEPT BioRobotics in the third quarter worth $10,862,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Up 2.9 %

PROCEPT BioRobotics stock opened at $65.31 on Wednesday. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $52.22 and a 200-day moving average price of $45.59. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $66.08.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The business had revenue of $44.50 million for the quarter, compared to the consensus estimate of $41.58 million. PROCEPT BioRobotics had a negative return on equity of 41.35% and a negative net margin of 66.12%. The business’s revenue was up 82.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) EPS. On average, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.93 earnings per share for the current year.

Analysts Set New Price Targets

PRCT has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Truist Financial raised their price objective on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler increased their price target on PROCEPT BioRobotics from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Buy” and an average price target of $61.20.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the sale, the executive vice president now owns 62,913 shares in the company, valued at $2,936,149.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 completion of the sale, the chief financial officer now directly owns 102,149 shares in the company, valued at approximately $4,987,935.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 2,749 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the sale, the executive vice president now directly owns 62,913 shares in the company, valued at $2,936,149.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,651 shares of company stock valued at $4,168,073. Company insiders own 17.40% 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).