TD Asset Management Inc Acquires 14,044 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Key Points

• TD Asset Management Inc increased its stake in PROCEPT BioRobotics Corporation by 13.5% during the first quarter, owning 118,244 shares valued at approximately $6.89 million.
• Institutional investors collectively hold 89.46% of the company's stock, with various firms, including Baillie Gifford & Co. and Neo Ivy Capital Management, recently acquiring stakes.
• Analysts have mixed ratings for PROCEPT BioRobotics, with target price revisions leading to an average target of $84.13 and a consensus rating of "Moderate Buy."

TD Asset Management Inc raised its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 13.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,244 shares of the company's stock after purchasing an additional 14,044 shares during the period. TD Asset Management Inc owned approximately 0.21% of PROCEPT BioRobotics worth $6,889,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $213,000. LPL Financial LLC increased its position in PROCEPT BioRobotics by 78.7% during the 4th quarter. LPL Financial LLC now owns 9,441 shares of the company's stock worth $760,000 after purchasing an additional 4,157 shares in the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 297,075 shares in the last quarter. Pictet Asset Management Holding SA increased its position in PROCEPT BioRobotics by 27.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,326 shares of the company's stock worth $751,000 after purchasing an additional 1,991 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $530,000. Institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

PRCT has been the subject of a number of research analyst reports. Morgan Stanley lowered 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. Wall Street Zen cut shares of PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Bank of America decreased their price target 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. Stephens initiated coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target for the company. Finally, Oppenheimer initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.13.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the transaction, the director directly owned 14,363 shares of the company's stock, valued at $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 100,000 shares of company stock worth $6,271,250 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Trading Down 0.1%

Shares of PRCT traded down $0.04 during trading hours on Tuesday, hitting $49.56. 413,413 shares of the stock were exchanged, compared to its average volume of 972,273. PROCEPT BioRobotics Corporation has a fifty-two week low of $47.04 and a fifty-two week high of $103.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.95 and a quick ratio of 7.75. The business has a 50-day moving average of $58.16 and a 200-day moving average of $59.54. The firm has a market capitalization of $2.74 billion, a P/E ratio of -29.15 and a beta of 1.05.

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).