Northern Trust Corp Sells 13,521 Shares of PROCEPT BioRobotics Corporation $PRCT

Northern Trust Corp lessened its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 432,947 shares of the company’s stock after selling 13,521 shares during the period. Northern Trust Corp owned 0.78% of PROCEPT BioRobotics worth $25,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PROCEPT BioRobotics by 9.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company’s stock valued at $527,000 after buying an additional 723 shares in the last quarter. GAMMA Investing LLC raised its position in shares of PROCEPT BioRobotics by 7,021.1% during the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company’s stock valued at $373,000 after buying an additional 6,319 shares in the last quarter. Bessemer Group Inc. raised its position in shares of PROCEPT BioRobotics by 50.7% during the 1st quarter. Bessemer Group Inc. now owns 10,900 shares of the company’s stock valued at $635,000 after buying an additional 3,665 shares in the last quarter. Rhumbline Advisers raised its position in shares of PROCEPT BioRobotics by 5.0% during the 1st quarter. Rhumbline Advisers now owns 64,373 shares of the company’s stock valued at $3,750,000 after buying an additional 3,077 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PROCEPT BioRobotics during the 1st quarter valued at about $208,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $40.17 on Monday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -25.92 and a beta of 1.03. PROCEPT BioRobotics Corporation has a 12 month low of $37.12 and a 12 month high of $103.81. The firm’s 50-day moving average is $50.64 and its 200 day moving average is $55.51. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. The company had revenue of $79.18 million for the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The firm’s revenue was up 48.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.50) EPS. Research analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PRCT shares. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Piper Sandler decreased their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Oppenheimer started coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They set a “market perform” rating on the stock. Stephens began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an “overweight” rating and a $70.00 target price on the stock. Finally, Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.88.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company’s 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 in the company, valued at $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 100,000 shares of company stock valued at $6,271,250. 17.40% of the stock is owned by corporate 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).