PROCEPT BioRobotics Corporation $PRCT Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stock position in PROCEPT BioRobotics by 36.0%, now holding 92,886 shares valued at approximately $5.4 million.
• Various institutional investors, like Westfield Capital Management and Evolutionary Tree Capital Management, have increased their stakes in the company, reflecting positive interest in PROCEPT BioRobotics.
• Analysts have lowered target prices for PROCEPT shares, with upgrades indicating a mix of hold and buy ratings, and an average price target of $74.88.

Deutsche Bank AG trimmed its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 36.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,886 shares of the company's stock after selling 52,356 shares during the period. Deutsche Bank AG owned about 0.17% of PROCEPT BioRobotics worth $5,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter valued at approximately $30,000. Thematics Asset Management purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $46,000. CWM LLC increased its stake in shares of PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after purchasing an additional 358 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after purchasing an additional 270 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of PROCEPT BioRobotics by 358.9% during the 1st quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock worth $193,000 after purchasing an additional 2,591 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Down 1.4%

Shares of PRCT traded down $0.57 during mid-day trading on Wednesday, reaching $39.15. The company had a trading volume of 261,122 shares, compared to its average volume of 1,020,395. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -25.26 and a beta of 1.05. The firm has a fifty day simple moving average of $53.87 and a 200-day simple moving average of $57.26. PROCEPT BioRobotics Corporation has a fifty-two week low of $37.12 and a fifty-two week high of $103.81. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRCT. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Oppenheimer began coverage on shares of PROCEPT BioRobotics in a research note on Monday, July 7th. They set a "market perform" rating for the company. Piper Sandler lowered their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company lowered their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, PROCEPT BioRobotics has an average rating of "Moderate Buy" and a consensus target price of $74.88.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics 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 transaction, the director owned 14,363 shares in the company, valued at approximately $883,180.87. The trade was a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 100,000 shares of company stock worth $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).