PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,557 shares of the company's stock after selling 8,532 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.16% of PROCEPT BioRobotics worth $6,809,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of PROCEPT BioRobotics by 11.9% in the 4th 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 holdings in shares of 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 purchasing an additional 297,075 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of 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 purchasing an additional 218,148 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of 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 purchasing an additional 416,819 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PROCEPT BioRobotics by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company's stock valued at $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 and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRCT shares. Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Bank of America cut their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial cut their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PROCEPT BioRobotics currently has an average rating of "Moderate Buy" and an average price target of $90.00.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $57.72 on Friday. The company's fifty day moving average price is $55.27 and its 200 day moving average price is $71.08. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The firm has a market capitalization of $3.19 billion, a P/E ratio of -29.60 and a beta of 1.10.

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. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. During the same period last year, the firm posted ($0.51) EPS. PROCEPT BioRobotics's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, sell-side analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,455 shares of company stock valued at $368,322. Insiders own 17.40% of the company's stock.

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).

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