Corebridge Financial Inc. Sells 496 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Corebridge Financial Inc. decreased its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,152 shares of the company’s stock after selling 496 shares during the period. Corebridge Financial Inc.’s holdings in PROCEPT BioRobotics were worth $1,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its position in PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock worth $55,000 after acquiring an additional 145 shares during the period. Naviter Wealth LLC grew its position in shares of PROCEPT BioRobotics by 6.0% during the 4th quarter. Naviter Wealth LLC now owns 3,089 shares of the company’s stock worth $249,000 after purchasing an additional 176 shares in the last quarter. Amundi increased its holdings in shares of PROCEPT BioRobotics by 0.9% during the fourth quarter. Amundi now owns 20,143 shares of the company’s stock worth $1,742,000 after purchasing an additional 183 shares during the period. Arizona State Retirement System raised its position in shares of PROCEPT BioRobotics by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,285 shares of the company’s stock valued at $1,150,000 after buying an additional 218 shares in the last quarter. Finally, KRS Capital Management LLC boosted its stake in shares of PROCEPT BioRobotics by 0.5% in the fourth quarter. KRS Capital Management LLC now owns 46,455 shares of the company’s stock valued at $3,741,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRCT shares. Morgan Stanley lowered 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 reaffirmed a “buy” rating and issued a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.29.

PROCEPT BioRobotics Trading Up 1.1 %

Shares of PRCT opened at $57.74 on Thursday. 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 Co. has a 52-week low of $45.56 and a 52-week high of $103.81. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -29.61 and a beta of 1.05. The business’s fifty day moving average is $64.52 and its 200-day moving average is $77.35.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) 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 net margin of 50.07% and a negative return on equity of 38.57%. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Reza Zadno sold 5,475 shares of the firm’s stock in a transaction 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 owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction dated 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 approximately $6,161,966.46. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock worth $368,322 in the last three months. 17.40% of the stock is owned by corporate 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).