PNC Financial Services Group Inc. Sells 1,582 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

PNC Financial Services Group Inc. reduced its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 43.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,025 shares of the company’s stock after selling 1,582 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PROCEPT BioRobotics were worth $163,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. purchased a new stake in PROCEPT BioRobotics in the fourth quarter worth approximately $32,000. IFP Advisors Inc purchased a new stake in shares of PROCEPT BioRobotics in the 4th quarter valued at $58,000. Wilmington Savings Fund Society FSB bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at $64,000. Arcadia Investment Management Corp MI purchased a new position in PROCEPT BioRobotics in the 4th quarter worth $64,000. Finally, Canton Hathaway LLC bought a new stake in PROCEPT BioRobotics in the third quarter worth $66,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Up 0.4 %

NASDAQ PRCT opened at $58.10 on Monday. PROCEPT BioRobotics Co. has a 1 year low of $45.56 and a 1 year high of $103.81. The stock has a market capitalization of $3.18 billion, a PE ratio of -29.79 and a beta of 1.05. 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 business’s 50-day moving average is $67.15 and its 200 day moving average is $78.36.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued 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 the consensus estimate 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.

Analysts Set New Price Targets

PRCT has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.29.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at $6,161,966.46. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,455 shares of company stock valued at $368,322. 17.40% of the stock is currently owned by company 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).