Formula Growth Ltd. Has $2.66 Million Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Formula Growth Ltd. cut its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,027 shares of the company's stock after selling 5,611 shares during the period. Formula Growth Ltd. owned 0.06% of PROCEPT BioRobotics worth $2,659,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PRCT. FMR LLC increased its position in PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after buying an additional 866,328 shares during the last quarter. Perpetual Ltd acquired a new stake in PROCEPT BioRobotics in the 4th quarter worth approximately $66,972,000. Wellington Management Group LLP boosted its position in PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock worth $120,051,000 after purchasing an additional 416,819 shares during the period. Franklin Resources Inc. grew its holdings in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock valued at $64,669,000 after purchasing an additional 347,330 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in PROCEPT BioRobotics by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock valued at $413,907,000 after purchasing an additional 297,075 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded down $3.12 during mid-day trading on Thursday, reaching $52.59. The company had a trading volume of 1,958,619 shares, compared to its average volume of 798,250. The company has a 50 day moving average of $58.33 and a 200-day moving average of $74.25. PROCEPT BioRobotics Co. has a 52 week low of $47.04 and a 52 week high of $103.81. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -26.87 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Activity

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 5,475 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 $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares of the company's stock, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,455 shares of company stock worth $368,322. Company insiders own 17.40% of the company's stock.

Wall Street Analyst Weigh In

PRCT has been the subject of several recent analyst reports. 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 report on Friday, April 11th. Morgan Stanley lowered their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and an average target price of $91.43.

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).