Rhumbline Advisers Boosts Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Rhumbline Advisers grew its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,296 shares of the company’s stock after buying an additional 3,242 shares during the quarter. Rhumbline Advisers owned 0.12% of PROCEPT BioRobotics worth $4,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $32,000. Wilmington Savings Fund Society FSB purchased a new position in PROCEPT BioRobotics during the third quarter valued at $64,000. Canton Hathaway LLC purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth approximately $66,000. Nisa Investment Advisors LLC raised its stake in PROCEPT BioRobotics by 178.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock worth $89,000 after acquiring an additional 713 shares during the period. Finally, Sentry Investment Management LLC bought a new position in PROCEPT BioRobotics in the 3rd quarter worth $120,000. Institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday. Finally, Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.29.

PROCEPT BioRobotics Stock Down 4.5 %

PRCT stock opened at $65.02 on Friday. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $75.25 and a 200 day moving average of $79.94. PROCEPT BioRobotics Co. has a 52 week low of $45.20 and a 52 week high of $103.81. The stock has a market capitalization of $3.39 billion, a PE ratio of -33.34 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. Sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the transaction, the chief executive officer now owns 152,762 shares of the company’s stock, valued at approximately $14,851,521.64. The trade was a 14.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of PROCEPT BioRobotics stock in a transaction dated 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 directly owns 52,472 shares in the company, valued at $5,096,605.36. This trade represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.40% of the stock is owned by corporate insiders.

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).