Bank of America Corp DE Grows Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Bank of America Corp DE increased its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 623,408 shares of the company's stock after purchasing an additional 36,944 shares during the period. Bank of America Corp DE owned approximately 1.19% of PROCEPT BioRobotics worth $50,197,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRCT. BNP Paribas Financial Markets bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at about $11,500,000. Freestone Grove Partners LP bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at about $207,000. Northern Trust Corp lifted its holdings in PROCEPT BioRobotics by 15.6% during the 4th quarter. Northern Trust Corp now owns 446,468 shares of the company's stock valued at $35,950,000 after buying an additional 60,098 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in PROCEPT BioRobotics by 11.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 65,820 shares of the company's stock valued at $5,300,000 after buying an additional 6,785 shares in the last quarter. Finally, Prosperity Consulting Group LLC bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at about $229,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRCT has been the subject of several recent research reports. Bank of America reduced their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial reduced their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a hold rating and six have issued 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 $90.00.

PROCEPT BioRobotics Stock Up 2.1%

Shares of PROCEPT BioRobotics stock traded up $1.22 on Monday, reaching $59.29. The stock had a trading volume of 708,661 shares, compared to its average volume of 816,900. The company has a 50 day moving average price of $55.25 and a 200 day moving average price of $71.54. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 1 year low of $47.04 and a 1 year high of $103.81. The stock has a market capitalization of $3.28 billion, a P/E ratio of -30.40 and a beta of 1.10.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The firm had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company's quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.51) EPS. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Reza Zadno sold 5,475 shares of the business's 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 in the company, valued at approximately $9,875,374.20. This represents a 3.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,455 shares of company stock valued at $368,322. Insiders own 6.60% 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).