Federated Hermes Inc. Sells 118,910 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Federated Hermes Inc. lessened its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 18.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 539,220 shares of the company's stock after selling 118,910 shares during the period. Federated Hermes Inc. owned about 0.97% of PROCEPT BioRobotics worth $31,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PROCEPT BioRobotics by 9.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock worth $527,000 after purchasing an additional 723 shares during the period. Vanguard Group Inc. boosted its position in shares of PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock worth $413,907,000 after purchasing an additional 297,075 shares during the period. GAMMA Investing LLC increased its stake in PROCEPT BioRobotics by 7,021.1% during the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company's stock worth $373,000 after buying an additional 6,319 shares during the period. Bessemer Group Inc. lifted its stake in PROCEPT BioRobotics by 50.7% in the first quarter. Bessemer Group Inc. now owns 10,900 shares of the company's stock worth $635,000 after acquiring an additional 3,665 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of PROCEPT BioRobotics by 40.6% during the fourth quarter. Mariner LLC now owns 8,406 shares of the company's stock worth $677,000 after purchasing an additional 2,429 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

Insider Buying and Selling

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 value of $1,537,250.00. Following the transaction, the director directly owned 14,363 shares in the company, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 100,000 shares of company stock worth $6,271,250 in the last three months. Company insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Down 1.1%

Shares of NASDAQ:PRCT traded down $0.55 during midday trading on Monday, reaching $49.41. The company had a trading volume of 285,933 shares, compared to its average volume of 973,172. PROCEPT BioRobotics Corporation has a 1-year low of $47.04 and a 1-year high of $103.81. The stock has a market cap of $2.73 billion, a PE ratio of -29.04 and a beta of 1.05. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13. The business's 50 day moving average price is $58.32 and its 200 day moving average price is $59.73.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PRCT shares. Morgan Stanley decreased their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Stephens began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price target for the company. Wall Street Zen lowered PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Bank of America lowered their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.13.

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).