Massachusetts Financial Services Co. MA Has $15.19 Million Stock Position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Massachusetts Financial Services Co. MA lessened its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Several other hedge funds have also added to or reduced their stakes in PRCT. FMR LLC lifted its holdings in shares of PROCEPT BioRobotics by 11.9% in the fourth quarter. FMR LLC now owns 8,159,208 shares of the company's stock valued at $656,979,000 after purchasing an additional 866,328 shares in the last quarter. Vanguard Group Inc. raised its position in PROCEPT BioRobotics by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock valued at $413,907,000 after buying an additional 297,075 shares during the last quarter. Alliancebernstein L.P. raised its position in PROCEPT BioRobotics by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company's stock valued at $141,110,000 after buying an additional 218,148 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 valued at $120,051,000 after acquiring an additional 416,819 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in PROCEPT BioRobotics by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company's stock worth $93,751,000 after acquiring an additional 57,449 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

Analysts Set New Price Targets

PRCT has been the topic of several recent research reports. Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday. Oppenheimer started coverage on PROCEPT BioRobotics in a report on Monday, July 7th. They set a "market perform" rating on the stock. Bank of America dropped their target price 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 lowered PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Truist Financial dropped their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.13.

PROCEPT BioRobotics Stock Down 1.0%

NASDAQ PRCT opened at $58.35 on Friday. 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 company has a 50 day moving average of $58.73 and a 200-day moving average of $62.06. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -34.32 and a beta of 1.07.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business earned ($0.51) earnings per share. The firm's quarterly revenue was up 55.5% on a year-over-year basis. On average, equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the company's 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 completion of the transaction, the director directly owned 14,363 shares in the company, valued at approximately $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $6,271,250. Company insiders own 6.60% of the company's stock.

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).

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