Vanguard Group Inc. Has $298.71 Million Stock Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Vanguard Group Inc. reduced its stake in PROCEPT BioRobotics by 0.3%, owning approximately 9.27% of the company, valued at around $298.7 million.
• A variety of institutional investors modified their holdings, with CWM LLC boosting their stake by 69.5%, reflecting a significant interest in the company.
• Analysts have mixed reviews on PROCEPT BioRobotics, with a consensus rating of "Moderate Buy" and an average price target of $74.88.

Vanguard Group Inc. lessened its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 0.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,127,137 shares of the company's stock after selling 13,289 shares during the period. Vanguard Group Inc. owned 9.27% of PROCEPT BioRobotics worth $298,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRCT. ANTIPODES PARTNERS Ltd bought a new position in PROCEPT BioRobotics in the 1st quarter valued at about $30,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter valued at about $46,000. CWM LLC grew its position in PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after buying an additional 358 shares in the last quarter. Nisa Investment Advisors LLC grew its position in PROCEPT BioRobotics by 32.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after buying an additional 270 shares in the last quarter. Finally, IFP Advisors Inc grew its position in PROCEPT BioRobotics by 358.9% in the 1st quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock valued at $193,000 after buying an additional 2,591 shares in the last quarter. Institutional investors own 89.46% of the company's stock.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the transaction, the director directly owned 14,363 shares in the company, valued at $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 100,000 shares of company stock valued at $6,271,250 in the last ninety days. Company insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRCT. Stephens began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price for the company. Oppenheimer began coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Bank of America decreased their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company decreased their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT traded up $1.88 during trading hours on Friday, hitting $41.23. 727,270 shares of the company's stock traded hands, compared to its average volume of 1,581,803. PROCEPT BioRobotics Corporation has a 52 week low of $37.12 and a 52 week high of $103.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. The company's fifty day simple moving average is $52.59 and its two-hundred day simple moving average is $56.70. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -26.60 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The company had revenue of $79.18 million during the quarter, compared to analyst estimates of $75.67 million. During the same quarter last year, the firm posted ($0.50) EPS. The business's revenue for the quarter was up 48.3% on a year-over-year basis. As a group, equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

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).