Invesco Ltd. Sells 79,122 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Invesco Ltd. reduced its stakes in PROCEPT BioRobotics by 15.8%, selling 79,122 shares and retaining a total of 420,827 shares valued at $24.5 million.
• Several institutional investors, including Swiss National Bank and Mitsubishi UFJ Asset Management, have notably increased their positions in PROCEPT BioRobotics during the first quarter, indicating growing interest in the company.
• PROCEPT BioRobotics reported a 48.3% year-over-year revenue increase with $79.18 million for the quarter, surpassing analysts' expectations, although it still posted a negative EPS of ($0.35).

Invesco Ltd. decreased its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,827 shares of the company's stock after selling 79,122 shares during the period. Invesco Ltd. owned approximately 0.76% of PROCEPT BioRobotics worth $24,517,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc increased its position in PROCEPT BioRobotics by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock worth $1,141,000 after buying an additional 150 shares during the period. Nisa Investment Advisors LLC increased its position in 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 buying an additional 270 shares during the period. CWM LLC increased its position in PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares during the period. Arizona State Retirement System increased its position in PROCEPT BioRobotics by 3.2% during the 1st quarter. Arizona State Retirement System now owns 14,737 shares of the company's stock worth $859,000 after buying an additional 452 shares during the period. Finally, ANTIPODES PARTNERS Ltd bought a new position in PROCEPT BioRobotics during the 1st quarter worth $30,000. Institutional investors own 89.46% of the company's stock.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the transaction, the director 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 legal filing with the SEC, which is available at this link. Insiders sold a total of 100,000 shares of company stock valued at $6,271,250 in the last quarter. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT traded up $1.21 during mid-day trading on Tuesday, reaching $40.52. The company had a trading volume of 1,109,914 shares, compared to its average volume of 1,419,301. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. PROCEPT BioRobotics Corporation has a one year low of $37.12 and a one year high of $103.81. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -26.14 and a beta of 1.05. The business's 50-day simple moving average is $51.80 and its 200 day simple moving average is $56.16.

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

Analysts Set New Price Targets

PRCT has been the topic of several recent research reports. Morgan Stanley lowered their price objective on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Wells Fargo & Company lowered their price objective on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Piper Sandler decreased their price target on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a "market perform" rating on the stock. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $74.88.

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).