Massachusetts Financial Services Co. MA Sells 78,189 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Massachusetts Financial Services Co. MA lowered its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 23.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,638 shares of the company's stock after selling 78,189 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.47% of PROCEPT BioRobotics worth $15,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter worth about $46,000. Signaturefd LLC boosted its holdings in PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after acquiring an additional 145 shares in the last quarter. CWM LLC boosted its position 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 buying an additional 358 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of PROCEPT BioRobotics by 32.5% in the first 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. Finally, WINTON GROUP Ltd bought a new stake in PROCEPT BioRobotics during the 4th quarter valued at approximately $207,000. 89.46% of the stock is currently owned by institutional investors.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the firm's 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 transaction, the director directly owned 14,363 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders have sold 100,000 shares of company stock worth $6,271,250 in the last three months. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Trading Up 3.0%

Shares of PRCT traded up $1.71 during trading hours on Tuesday, hitting $58.76. The stock had a trading volume of 751,486 shares, compared to its average volume of 859,026. The company's fifty day simple moving average is $58.90 and its 200 day simple moving average is $61.58. 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 Corporation has a 12-month low of $47.04 and a 12-month high of $103.81. The firm has a market cap of $3.25 billion, a P/E ratio of -34.56 and a beta of 1.07.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same period in the previous year, the company earned ($0.51) earnings per share. PROCEPT BioRobotics's quarterly revenue was up 55.5% on a year-over-year basis. Equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PRCT shares. Truist Financial dropped their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Stephens assumed coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target for the company. Morgan Stanley dropped their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. Finally, Bank of America reduced their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.13.

PROCEPT BioRobotics Company 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).