Nuveen Asset Management LLC Reduces Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Nuveen Asset Management LLC reduced its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 38.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,802 shares of the company's stock after selling 94,827 shares during the period. Nuveen Asset Management LLC owned approximately 0.29% of PROCEPT BioRobotics worth $12,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC grew its position in PROCEPT BioRobotics by 295.8% in the fourth quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after acquiring an additional 4,931 shares in the last quarter. Chicago Capital LLC increased its position in shares of PROCEPT BioRobotics by 44.5% during the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after purchasing an additional 116,931 shares during the last quarter. Matisse Capital raised its holdings in PROCEPT BioRobotics by 112.9% during the 4th quarter. Matisse Capital now owns 22,285 shares of the company's stock valued at $1,794,000 after buying an additional 11,817 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company's stock valued at $33,350,000 after buying an additional 275,071 shares during the period. Finally, KBC Group NV lifted its position in PROCEPT BioRobotics by 46.0% in the fourth quarter. KBC Group NV now owns 2,236 shares of the company's stock worth $180,000 after buying an additional 705 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Up 6.1%

Shares of NASDAQ PRCT traded up $3.38 during midday trading on Friday, reaching $59.09. 664,426 shares of the company's stock traded hands, compared to its average volume of 820,283. The company has a market cap of $3.27 billion, a price-to-earnings ratio of -30.28 and a beta of 1.10. The stock's 50 day simple moving average is $55.19 and its 200-day simple moving average is $69.71. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results 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. The business had revenue of $69.16 million for the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business's revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) EPS. On average, analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kevin Waters sold 733 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares of the company's stock, valued at $6,161,966.46. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,455 shares of company stock worth $368,322. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PRCT has been the topic of several recent analyst reports. Bank of America reduced their target price 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. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial decreased their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley decreased their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.00.

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).