Nuveen Asset Management LLC Sells 94,827 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

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

A number of other large investors also recently made changes to their positions in PRCT. FMR LLC increased its stake in PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after acquiring an additional 866,328 shares during the period. Vanguard Group Inc. increased its stake in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock worth $413,907,000 after acquiring an additional 297,075 shares during the period. Alliancebernstein L.P. increased its stake in PROCEPT BioRobotics by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company's stock worth $141,110,000 after acquiring an additional 218,148 shares during the period. Wellington Management Group LLP boosted 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 boosted 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. Institutional investors own 89.46% of the company's stock.

Insiders Place Their Bets

In other news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares of the company's stock, valued at approximately $6,161,966.46. This trade represents a 0.67% decrease in their ownership of the stock. 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. 6.60% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT traded up $2.89 during mid-day trading on Friday, hitting $58.60. 1,075,081 shares of the stock traded hands, compared to its average volume of 823,883. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The company has a market cap of $3.24 billion, a PE ratio of -30.05 and a beta of 1.10. The firm has a 50 day simple moving average of $55.11 and a two-hundred day simple moving average of $69.30.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released 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. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. PROCEPT BioRobotics's revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) EPS. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PRCT shares. Morgan Stanley reduced their target price on 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 reduced 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. Truist Financial reduced 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. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.00.

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).