PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 83.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,374 shares of the company’s stock after selling 135,339 shares during the quarter. Principal Financial Group Inc.’s holdings in PROCEPT BioRobotics were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thematics Asset Management bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth about $46,000. Signaturefd LLC raised its holdings in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after purchasing an additional 145 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $207,000. Freestone Grove Partners LP bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $207,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $213,000. 89.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the sale, the director directly owned 14,363 shares in the company, valued at approximately $883,180.87. The trade was a 63.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Bank of America decreased their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial decreased their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Stephens assumed coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an “overweight” rating and a $70.00 price objective for the company. Finally, Oppenheimer assumed coverage on shares of PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.13.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $58.35 on Friday. The company has a market capitalization of $3.23 billion, a PE ratio of -34.32 and a beta of 1.07. PROCEPT BioRobotics Corporation has a one year low of $47.04 and a one year high of $103.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.95 and a quick ratio of 7.75. The company’s fifty day moving average price is $58.73 and its 200 day moving average price is $61.94.

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

PROCEPT BioRobotics Company 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).