PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 61.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,056 shares of the company's stock after selling 19,111 shares during the period. Legato Capital Management LLC's holdings in PROCEPT BioRobotics were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Thematics Asset Management purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $46,000. CWM LLC boosted its stake in shares of PROCEPT BioRobotics by 69.5% in the first quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after purchasing an additional 358 shares during the period. Nisa Investment Advisors LLC raised its holdings in PROCEPT BioRobotics by 32.5% in 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 in the last quarter. IFP Advisors Inc raised its holdings in PROCEPT BioRobotics by 358.9% in the first quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock valued at $193,000 after acquiring an additional 2,591 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in PROCEPT BioRobotics during the fourth quarter worth approximately $207,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 14,363 shares of the company's stock, valued at $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 100,000 shares of company stock valued at $6,271,250 over the last three months. 6.60% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Down 5.0%

NASDAQ:PRCT traded down $2.92 during trading hours on Friday, hitting $55.72. The stock had a trading volume of 3,891,204 shares, compared to its average volume of 840,729. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a 1-year low of $47.04 and a 1-year high of $103.81. The business has a 50 day simple moving average of $59.01 and a two-hundred day simple moving average of $61.36. The company has a market cap of $3.08 billion, a PE ratio of -32.78 and a beta of 1.07.

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, beating the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same quarter last year, the company earned ($0.51) earnings per share. PROCEPT BioRobotics's revenue for the quarter was up 55.5% on a year-over-year basis. Analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PRCT shares. Stephens assumed coverage on shares of PROCEPT BioRobotics in a report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price on the stock. Wall Street Zen cut shares of PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Oppenheimer began coverage on shares of PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. Morgan Stanley reduced their target price 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. Finally, Truist Financial cut their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and a consensus 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).