Aberdeen Group plc Cuts Stock Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Aberdeen Group plc reduced its stake in PROCEPT BioRobotics by 37.4%, selling 26,279 shares and owning 43,998 shares valued at approximately $2.5 million.
• PROCEPT BioRobotics has received varying analyst ratings, with the consensus rating being a "Moderate Buy" and an average price target of $74.88.
• During the last quarter, insiders sold a total of 100,000 shares worth about $6.27 million, indicating significant selling activity among company executives.

Aberdeen Group plc cut its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 37.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,998 shares of the company's stock after selling 26,279 shares during the period. Aberdeen Group plc owned 0.08% of PROCEPT BioRobotics worth $2,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics in the first quarter worth approximately $30,000. CWM LLC boosted its stake in shares of PROCEPT BioRobotics by 69.5% in the first quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after acquiring an additional 358 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 32.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after acquiring an additional 270 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of PROCEPT BioRobotics by 358.9% in the first quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock worth $193,000 after acquiring an additional 2,591 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $207,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Up 0.7%

Shares of PROCEPT BioRobotics stock traded up $0.28 during trading hours on Wednesday, hitting $40.80. The company's stock had a trading volume of 721,947 shares, compared to its average volume of 1,418,402. PROCEPT BioRobotics Corporation has a twelve month low of $37.12 and a twelve month high of $103.81. The firm has a fifty day moving average of $51.42 and a 200-day moving average of $56.06. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -26.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. During the same quarter in the prior year, the company posted ($0.50) EPS. The company's quarterly revenue was up 48.3% on a year-over-year basis. Research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Oppenheimer assumed coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. Stephens started coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target on the stock. Piper Sandler lowered their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.88.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the transaction, the director owned 14,363 shares of the company's stock, valued at $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 100,000 shares of company stock valued at $6,271,250. Corporate 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).