PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 11.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,434 shares of the company’s stock after selling 2,990 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PROCEPT BioRobotics were worth $1,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP purchased a new stake in PROCEPT BioRobotics during the third quarter worth $72,563,000. Perpetual Ltd purchased a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $66,972,000. Franklin Resources Inc. boosted its holdings in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after purchasing an additional 347,330 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of PROCEPT BioRobotics by 218.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock valued at $33,350,000 after purchasing an additional 275,071 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in 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 buying an additional 233,430 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $62.71 on Wednesday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.27 billion, a PE ratio of -32.16 and a beta of 1.03. The business’s fifty day moving average price is $75.53 and its 200 day moving average price is $80.02. PROCEPT BioRobotics Co. has a 12-month low of $45.20 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million for the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. On average, sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PRCT shares. Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. 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 on the stock. Finally, Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. One investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $97.86.

Insider Transactions at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 26,423 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total value of $2,568,844.06. Following the completion of the sale, the chief executive officer now directly owns 152,762 shares of the company’s stock, valued at $14,851,521.64. This represents a 14.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alaleh Nouri sold 28,092 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $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. Corporate insiders own 17.40% of the company’s stock.

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).