Envestnet Asset Management Inc. Grows Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Envestnet Asset Management Inc. lifted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 130.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,202 shares of the company's stock after purchasing an additional 23,861 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of PROCEPT BioRobotics worth $3,398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRCT. Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $64,000. Franklin Resources Inc. boosted its stake in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after buying an additional 347,330 shares during the period. Lord Abbett & CO. LLC increased its position in shares of PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock valued at $59,974,000 after acquiring an additional 233,430 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company's stock valued at $5,498,000 after acquiring an additional 51,030 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $453,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRCT. Morgan Stanley cut their target price on shares of 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 dropped their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Bank of America dropped their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics 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 value of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 733 shares of the company'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 $41,824.98. Following the transaction, the chief financial officer now directly 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 have sold a total of 6,455 shares of company stock worth $368,322 over the last ninety days. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Stock Performance

PRCT traded down $2.33 on Wednesday, hitting $53.98. 941,329 shares of the company traded hands, compared to its average volume of 812,827. The company has a 50 day moving average of $57.13 and a 200-day moving average of $73.61. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month high of $103.81. The stock has a market capitalization of $2.96 billion, a PE ratio of -27.68 and a beta of 1.09. 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 (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) 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 business had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The company's quarterly revenue was up 55.5% compared to the same quarter last year. Sell-side analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current 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).