BNP Paribas Financial Markets Acquires New Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

BNP Paribas Financial Markets acquired a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 142,826 shares of the company's stock, valued at approximately $11,500,000. BNP Paribas Financial Markets owned 0.27% of PROCEPT BioRobotics as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Freestone Grove Partners LP acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $207,000. Northern Trust Corp increased its position in PROCEPT BioRobotics by 15.6% in the fourth quarter. Northern Trust Corp now owns 446,468 shares of the company's stock worth $35,950,000 after buying an additional 60,098 shares during the period. The Manufacturers Life Insurance Company increased its position in PROCEPT BioRobotics by 11.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 65,820 shares of the company's stock worth $5,300,000 after buying an additional 6,785 shares during the period. Prosperity Consulting Group LLC bought a new stake in PROCEPT BioRobotics in the fourth quarter valued at $229,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at $1,764,000. Institutional investors own 89.46% of the company's stock.

Insider Activity

In other news, CEO Reza Zadno sold 5,475 shares of the 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 completion of the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 733 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 value of $41,824.98. Following the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,455 shares of company stock worth $368,322. Corporate insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRCT. Truist Financial cut their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Bank of America reduced their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

PROCEPT BioRobotics Stock Performance

PRCT opened at $53.12 on Friday. The business has a 50 day moving average price of $55.66 and a two-hundred day moving average price of $72.86. 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 company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -27.24 and a beta of 1.10. PROCEPT BioRobotics Co. has a 1-year low of $47.04 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.04. The business had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company's revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. Research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).

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