Federated Hermes Inc. Decreases Holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Federated Hermes Inc. trimmed its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 18.1% during the first quarter, according to its most recent 13F filing 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 0.97% of PROCEPT BioRobotics worth $31,415,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PRCT. Ensign Peak Advisors Inc increased its position in shares of PROCEPT BioRobotics by 1.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after purchasing an additional 150 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of PROCEPT BioRobotics by 32.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after acquiring an additional 270 shares during the period. CWM LLC lifted its stake in shares of PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after acquiring an additional 358 shares during the period. Arizona State Retirement System lifted its stake in PROCEPT BioRobotics by 3.2% in the first quarter. Arizona State Retirement System now owns 14,737 shares of the company's stock valued at $859,000 after buying an additional 452 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of PROCEPT BioRobotics by 11.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,661 shares of the company's stock worth $375,000 after acquiring an additional 483 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRCT. Truist Financial reduced their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. 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. Bank of America cut their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wall Street Zen downgraded PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Oppenheimer assumed coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.13.

Insider Buying and Selling

In other 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 $883,180.87. This trade represents a 63.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $6,271,250. Insiders own 6.60% of the company's stock.

PROCEPT BioRobotics Stock Up 3.0%

Shares of PRCT stock traded up $1.45 during trading hours on Friday, hitting $49.96. 1,284,652 shares of the company's stock traded hands, compared to its average volume of 1,124,982. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -29.39 and a beta of 1.07. 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 stock's fifty day simple moving average is $58.32 and its two-hundred day simple moving average is $59.99. PROCEPT BioRobotics Corporation has a 12-month low of $47.04 and a 12-month high of $103.81.

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).