PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 76.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,254 shares of the company's stock after selling 305,956 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.17% of PROCEPT BioRobotics worth $5,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in PROCEPT BioRobotics by 9.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock valued at $527,000 after buying an additional 723 shares during the last quarter. Diversified Trust Co raised its stake in PROCEPT BioRobotics by 54.6% during the 1st quarter. Diversified Trust Co now owns 7,187 shares of the company's stock valued at $419,000 after acquiring an additional 2,538 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of PROCEPT BioRobotics by 50.7% in the 1st quarter. Bessemer Group Inc. now owns 10,900 shares of the company's stock valued at $635,000 after purchasing an additional 3,665 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of PROCEPT BioRobotics by 138.5% in the first quarter. Avior Wealth Management LLC now owns 4,918 shares of the company's stock valued at $287,000 after purchasing an additional 2,856 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of PROCEPT BioRobotics by 28.8% during the first quarter. Blue Trust Inc. now owns 4,996 shares of the company's stock worth $291,000 after purchasing an additional 1,118 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PRCT shares. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research note on Monday. They issued a "market perform" rating for the company. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Bank of America reduced their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PROCEPT BioRobotics has an average rating of "Moderate Buy" and a consensus target price of $90.00.

PROCEPT BioRobotics Trading Down 1.6%

PRCT stock traded down $0.95 on Monday, hitting $56.97. 589,205 shares of the company were exchanged, compared to its average volume of 842,657. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.95 and a quick ratio of 7.75. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -33.51 and a beta of 1.07. PROCEPT BioRobotics Corporation has a twelve month low of $47.04 and a twelve month high of $103.81. The business's fifty day moving average is $58.02 and its two-hundred day moving average is $63.30.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The business had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same period in the prior year, the firm posted ($0.51) EPS. The business's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the sale, the director owned 14,363 shares of the company's stock, valued at approximately $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 100,000 shares of company stock valued at $6,271,250. Insiders own 17.40% of the company's stock.

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).