PROCEPT BioRobotics Corporation $PRCT Holdings Trimmed by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,127,137 shares of the company’s stock after selling 13,289 shares during the period. Vanguard Group Inc. owned about 9.27% of PROCEPT BioRobotics worth $298,707,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter valued at $30,000. Thematics Asset Management acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at $46,000. CWM LLC boosted its stake in shares of PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company’s stock valued at $51,000 after buying an additional 358 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company’s stock valued at $64,000 after buying an additional 270 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at $207,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of PROCEPT BioRobotics in a research note on Monday, July 7th. They set a “market perform” rating for the company. Piper Sandler decreased their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Stephens initiated 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. Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. Finally, Bank of America reduced 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.88.

PROCEPT BioRobotics Stock Up 3.7%

PROCEPT BioRobotics stock opened at $41.59 on Monday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -26.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. PROCEPT BioRobotics Corporation has a fifty-two week low of $37.12 and a fifty-two week high of $103.81. The firm has a fifty day moving average price of $54.81 and a two-hundred day moving average price of $57.60.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The firm had revenue of $79.18 million during the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business’s revenue was up 48.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) EPS. As a group, analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 14,363 shares of the company’s stock, valued at $883,180.87. The trade was a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 100,000 shares of company stock worth $6,271,250. 17.40% of the stock is owned by insiders.

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).