PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 54.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,722 shares of the company's stock after purchasing an additional 4,459 shares during the period. ProShare Advisors LLC's holdings in PROCEPT BioRobotics were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at $32,000. Thematics Asset Management acquired a new stake in PROCEPT BioRobotics in the 4th quarter worth about $46,000. Signaturefd LLC grew its holdings in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock valued at $55,000 after buying an additional 145 shares during the period. IFP Advisors Inc purchased a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $58,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth about $64,000. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 0.7%

NASDAQ:PRCT traded down $0.40 on Wednesday, reaching $58.14. The stock had a trading volume of 183,914 shares, compared to its average volume of 816,422. The company has a 50-day moving average of $55.28 and a 200 day moving average of $70.08. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.22 billion, a P/E ratio of -29.81 and a beta of 1.10. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month 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 analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same period in the prior year, the company posted ($0.51) EPS. PROCEPT BioRobotics's quarterly revenue was up 55.5% on a year-over-year basis. On average, research analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Waters sold 733 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock valued at $368,322 over the last ninety days. Corporate insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

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