Charles Schwab Investment Management Inc. Buys 46,665 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Charles Schwab Investment Management Inc. boosted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,565 shares of the company’s stock after acquiring an additional 46,665 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.77% of PROCEPT BioRobotics worth $32,254,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PRCT. Contravisory Investment Management Inc. bought a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $311,000. M&G Plc acquired a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $8,507,000. KRS Capital Management LLC acquired a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $2,817,000. Hennion & Walsh Asset Management Inc. acquired a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $284,000. Finally, RiverPark Advisors LLC acquired a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $135,000. 89.46% of the stock is owned by institutional investors.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the completion of the sale, the chief executive officer now owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Antal Rohit Desai sold 34,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the sale, the director now directly owns 164,363 shares of the company’s stock, valued at approximately $15,678,586.57. This trade represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 552,973 shares of company stock valued at $48,976,847 in the last quarter. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Up 0.4 %

Shares of PRCT opened at $96.48 on Wednesday. PROCEPT BioRobotics Co. has a 52 week low of $36.52 and a 52 week high of $103.81. The firm has a market cap of $5.03 billion, a P/E ratio of -49.48 and a beta of 0.99. The firm’s 50-day simple moving average is $84.56 and its 200 day simple moving average is $74.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business’s revenue for the quarter was up 66.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.51) EPS. On average, analysts forecast that PROCEPT BioRobotics Co. will post -1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCT has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $75.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective on the stock. Bank of America boosted their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research note on Monday. They set an “overweight” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PROCEPT BioRobotics has an average rating of “Moderate Buy” and a consensus price target of $97.86.

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).