Comerica Bank Sells 25,142 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Comerica Bank lowered its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,158 shares of the company's stock after selling 25,142 shares during the quarter. Comerica Bank owned 0.23% of PROCEPT BioRobotics worth $9,756,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PRCT. Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after purchasing an additional 145 shares during the last quarter. Naviter Wealth LLC boosted its stake in PROCEPT BioRobotics by 6.0% during the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock valued at $249,000 after buying an additional 176 shares in the last quarter. Amundi increased its holdings in shares of PROCEPT BioRobotics by 0.9% in the fourth quarter. Amundi now owns 20,143 shares of the company's stock valued at $1,742,000 after buying an additional 183 shares in the last quarter. Arizona State Retirement System lifted its holdings 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 purchasing an additional 218 shares in the last quarter. Finally, KRS Capital Management LLC grew its stake in PROCEPT BioRobotics by 0.5% during the 4th quarter. KRS Capital Management LLC now owns 46,455 shares of the company's stock valued at $3,741,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock worth $368,322 over the last three months. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Price Performance

PRCT stock traded down $0.23 during midday trading on Wednesday, reaching $53.00. The company had a trading volume of 424,945 shares, compared to its average volume of 802,821. The company has a market capitalization of $2.93 billion, a P/E ratio of -27.18 and a beta of 1.10. 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 firm has a 50-day moving average price of $56.24 and a 200-day moving average price of $73.15. 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 posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same quarter in the previous year, the firm earned ($0.51) EPS. PROCEPT BioRobotics's quarterly revenue was up 55.5% compared to the same quarter last year. On average, research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

PROCEPT BioRobotics Profile

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).