PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 14.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,562 shares of the company’s stock after selling 10,469 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of PROCEPT BioRobotics worth $3,822,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Deerfield Management Company L.P. Series C acquired a new stake in shares of PROCEPT BioRobotics in the second quarter valued at about $515,000. AQR Capital Management LLC purchased a new position in PROCEPT BioRobotics in the second quarter valued at about $314,000. Caxton Associates LP purchased a new position in PROCEPT BioRobotics in the second quarter valued at about $430,000. Marshall Wace LLP purchased a new position in PROCEPT BioRobotics in the second quarter valued at about $567,000. Finally, Evolutionary Tree Capital Management LLC boosted its holdings in PROCEPT BioRobotics by 32.8% in the second quarter. Evolutionary Tree Capital Management LLC now owns 66,239 shares of the company’s stock valued at $4,047,000 after purchasing an additional 16,352 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PRCT shares. Wells Fargo & Company increased their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial increased their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Bank of America increased their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, TD Cowen boosted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and an average target price of $78.17.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 35,220 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the completion of the sale, the director now directly owns 23,963 shares in the company, valued at approximately $1,824,063.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Antal Rohit Desai sold 35,220 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $76.12, for a total value of $2,680,946.40. Following the completion of the transaction, the director now owns 23,963 shares of the company’s stock, valued at approximately $1,824,063.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at $7,928,880.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,892 shares of company stock worth $12,134,665. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $69.62 on Tuesday. PROCEPT BioRobotics Co. has a 52 week low of $24.83 and a 52 week high of $85.81. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.58 billion, a P/E ratio of -32.84 and a beta of 1.03. The firm’s 50 day moving average is $73.44 and its two-hundred day moving average is $64.95.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.02. The business had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The business’s revenue for the quarter was up 61.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.56) earnings per share. Analysts anticipate that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current year.

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).