PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 46.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,236 shares of the company’s stock after purchasing an additional 705 shares during the quarter. KBC Group NV’s holdings in PROCEPT BioRobotics were worth $180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRCT. Westfield Capital Management Co. LP purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $72,563,000. Perpetual Ltd purchased a new stake in PROCEPT BioRobotics in the fourth quarter valued at $66,972,000. Franklin Resources Inc. boosted its stake in PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after purchasing an additional 233,430 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth about $11,890,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $73.81 on Thursday. The business has a 50 day simple moving average of $82.89 and a 200-day simple moving average of $79.49. PROCEPT BioRobotics Co. has a 12 month low of $45.20 and a 12 month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The stock has a market capitalization of $3.85 billion, a PE ratio of -37.85 and a beta of 1.03.

Wall Street Analysts Forecast Growth

PRCT has been the subject of a number of research analyst reports. Morgan Stanley began coverage on PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an “overweight” rating and a $105.00 target price for the company. Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PROCEPT BioRobotics has an average rating of “Moderate Buy” and an average price target of $97.86.

Insiders Place Their Bets

In related news, EVP Alaleh Nouri sold 28,092 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the transaction, the executive vice president now owns 52,472 shares of the company’s stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 26,420 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total value of $2,584,668.60. Following the completion of the transaction, the chief executive officer now owns 179,185 shares of the company’s stock, valued at $17,529,668.55. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,355 shares of company stock worth $10,327,788. 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).