Charles Schwab Investment Management Inc. Sells 9,391 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in PROCEPT BioRobotics Corporation by 2.2%, selling 9,391 shares and retaining a total of 417,043 shares valued at approximately $24.3 million.
• Insider trading was notable, with Director Antal Rohit Desai selling 25,000 shares for over $1.5 million, leading to a significant decrease in their ownership of the stock.
• PROCEPT BioRobotics recently reported earnings per share of ($0.35), exceeding analyst expectations and showing a year-over-year revenue increase of 48.3%.

Charles Schwab Investment Management Inc. lessened its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 417,043 shares of the company's stock after selling 9,391 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of PROCEPT BioRobotics worth $24,297,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP boosted its holdings in PROCEPT BioRobotics by 43.2% during the first quarter. Westfield Capital Management Co. LP now owns 748,557 shares of the company's stock worth $43,611,000 after buying an additional 225,894 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of PROCEPT BioRobotics by 6.3% during the 4th quarter. Bank of America Corp DE now owns 623,408 shares of the company's stock valued at $50,197,000 after purchasing an additional 36,944 shares in the last quarter. Summit Partners Public Asset Management LLC raised its holdings in shares of PROCEPT BioRobotics by 1.6% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 551,767 shares of the company's stock valued at $44,428,000 after purchasing an additional 8,721 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of PROCEPT BioRobotics by 12.5% during the 1st quarter. Blair William & Co. IL now owns 470,286 shares of the company's stock valued at $27,399,000 after purchasing an additional 52,392 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in PROCEPT BioRobotics by 60.4% in the 4th quarter. Voloridge Investment Management LLC now owns 454,374 shares of the company's stock worth $36,586,000 after acquiring an additional 171,029 shares during the period. 89.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler dropped their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Oppenheimer started coverage on shares of PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Finally, Stephens started coverage on shares of PROCEPT BioRobotics in a research note on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.88.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction 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 sale, the director directly owned 14,363 shares of the company's stock, valued at approximately $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 100,000 shares of company stock worth $6,271,250 over the last 90 days. Corporate insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Up 3.1%

PRCT traded up $1.21 during trading hours on Tuesday, hitting $40.52. 1,109,914 shares of the company's stock were exchanged, compared to its average volume of 1,419,301. PROCEPT BioRobotics Corporation has a 1-year low of $37.12 and a 1-year high of $103.81. The stock's 50-day moving average is $51.80 and its two-hundred day moving average is $56.16. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -26.14 and a beta of 1.05. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the prior year, the company posted ($0.50) earnings per share. The firm's revenue was up 48.3% on a year-over-year basis. Sell-side analysts predict that PROCEPT BioRobotics Corporation 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).