FSM Wealth Advisors LLC acquired a new stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,301 shares of the company's stock, valued at approximately $251,000.
A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC grew its stake in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock valued at $656,979,000 after acquiring an additional 866,328 shares during the period. Vanguard Group Inc. lifted its holdings in PROCEPT BioRobotics by 6.1% in 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 in the last quarter. Alliancebernstein L.P. lifted its holdings in PROCEPT BioRobotics by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company's stock worth $141,110,000 after purchasing an additional 218,148 shares in the last quarter. Wellington Management Group LLP lifted its holdings in PROCEPT BioRobotics by 38.8% in the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock worth $120,051,000 after purchasing an additional 416,819 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in PROCEPT BioRobotics by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company's stock worth $93,751,000 after purchasing an additional 57,449 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was 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 $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 100,000 shares of company stock worth $6,271,250. 17.40% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on PRCT shares. Bank of America lowered their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Truist Financial lowered their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $90.00.
Read Our Latest Stock Analysis on PRCT
PROCEPT BioRobotics Price Performance
Shares of PRCT traded up $0.82 during mid-day trading on Friday, hitting $59.00. 229,134 shares of the stock were exchanged, compared to its average volume of 843,675. The company has a market cap of $3.26 billion, a PE ratio of -34.71 and a beta of 1.07. PROCEPT BioRobotics Corporation has a 52-week low of $47.04 and a 52-week high of $103.81. The firm has a 50-day moving average of $57.97 and a two-hundred day moving average of $63.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. The business had revenue of $69.16 million for the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The company's revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) EPS. On average, equities analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.
PROCEPT BioRobotics Company Profile
(
Free Report)
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).
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