Envestnet Asset Management Inc. Lowers Position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Envestnet Asset Management Inc. decreased its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,273 shares of the company's stock after selling 4,929 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of PROCEPT BioRobotics worth $2,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PROCEPT BioRobotics by 9.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock valued at $527,000 after buying an additional 723 shares during the last quarter. Vanguard Group Inc. boosted its position in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock worth $413,907,000 after purchasing an additional 297,075 shares during the last quarter. GAMMA Investing LLC boosted its position in PROCEPT BioRobotics by 7,021.1% in the first quarter. GAMMA Investing LLC now owns 6,409 shares of the company's stock worth $373,000 after purchasing an additional 6,319 shares during the last quarter. Bessemer Group Inc. boosted its position in PROCEPT BioRobotics by 50.7% in the first quarter. Bessemer Group Inc. now owns 10,900 shares of the company's stock worth $635,000 after purchasing an additional 3,665 shares during the last quarter. Finally, Mariner LLC boosted its position in PROCEPT BioRobotics by 40.6% in the fourth quarter. Mariner LLC now owns 8,406 shares of the company's stock worth $677,000 after purchasing an additional 2,429 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on PRCT shares. Stephens started coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price objective on the stock. Morgan Stanley cut their price objective on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Bank of America cut their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Wall Street Zen cut PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Truist Financial dropped their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and a consensus price target of $84.13.

PROCEPT BioRobotics Price Performance

PRCT traded up $1.45 during trading on Friday, reaching $49.96. 1,284,652 shares of the company were exchanged, compared to its average volume of 1,124,982. The company's 50-day moving average is $58.32 and its two-hundred day moving average is $59.99. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -29.39 and a beta of 1.07. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a 12-month low of $47.04 and a 12-month high of $103.81.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the sale, the director owned 14,363 shares of the company's stock, valued at approximately $883,180.87. This represents a 63.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 100,000 shares of company stock worth $6,271,250. Corporate insiders own 6.60% 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).