Teacher Retirement System of Texas Has $646,000 Stock Holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Teacher Retirement System of Texas lifted its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 16.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,080 shares of the company’s stock after purchasing an additional 1,537 shares during the quarter. Teacher Retirement System of Texas’ holdings in PROCEPT BioRobotics were worth $646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in PROCEPT BioRobotics by 9.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company’s stock valued at $527,000 after acquiring an additional 723 shares during the period. Sei Investments Co. lifted its holdings in shares of PROCEPT BioRobotics by 189.2% during the 4th quarter. Sei Investments Co. now owns 95,315 shares of the company’s stock valued at $7,675,000 after purchasing an additional 62,359 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PROCEPT BioRobotics by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after purchasing an additional 297,075 shares during the period. GAMMA Investing LLC increased its stake in PROCEPT BioRobotics by 7,021.1% during the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company’s stock worth $373,000 after purchasing an additional 6,319 shares in the last quarter. Finally, Mariner LLC raised its holdings in PROCEPT BioRobotics by 40.6% during the 4th quarter. Mariner LLC now owns 8,406 shares of the company’s stock worth $677,000 after buying an additional 2,429 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

PRCT has been the subject of several research analyst reports. Wall Street Zen cut shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a report on Saturday. Stephens initiated coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an “overweight” rating and a $70.00 target price on the stock. Morgan Stanley reduced their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday. Truist Financial lowered their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Bank of America cut their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.13.

PROCEPT BioRobotics Trading Down 0.3%

Shares of NASDAQ:PRCT opened at $58.01 on Wednesday. PROCEPT BioRobotics Corporation has a 52-week low of $47.04 and a 52-week high of $103.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. The company has a market capitalization of $3.21 billion, a P/E ratio of -34.12 and a beta of 1.07. The company has a 50-day simple moving average of $58.46 and a 200 day simple moving average of $62.41.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same period in the previous year, the firm earned ($0.51) EPS. The firm’s revenue was up 55.5% compared to the same quarter last year. Sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the transaction, the director directly owned 14,363 shares of the company’s stock, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $6,271,250. Insiders own 17.40% of the company’s stock.

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).