Hsbc Holdings PLC Sells 11,021 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Hsbc Holdings PLC lowered its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,810 shares of the company's stock after selling 11,021 shares during the quarter. Hsbc Holdings PLC owned about 0.27% of PROCEPT BioRobotics worth $11,499,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at about $64,000. Franklin Resources Inc. increased its position in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company's stock worth $64,669,000 after purchasing an additional 347,330 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company's stock valued at $59,974,000 after purchasing an additional 233,430 shares in the last quarter. Principal Financial Group Inc. lifted its position in PROCEPT BioRobotics by 290.2% during the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company's stock valued at $5,498,000 after purchasing an additional 51,030 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $453,000. Institutional investors own 89.46% of the company's stock.

Insider Activity

In related news, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Waters sold 733 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares of the company's stock, 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. Over the last ninety days, insiders sold 6,455 shares of company stock valued at $368,322. Insiders own 17.40% of the company's stock.

Analyst Upgrades and Downgrades

PRCT has been the subject of several research reports. Morgan Stanley cut their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Bank of America cut their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Truist Financial reduced their price objective 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 hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and an average target price of $90.00.

PROCEPT BioRobotics Trading Up 5.2 %

Shares of PRCT traded up $2.77 during trading hours on Friday, hitting $55.62. The company had a trading volume of 930,808 shares, compared to its average volume of 805,885. The firm has a market cap of $3.08 billion, a P/E ratio of -28.52 and a beta of 1.09. PROCEPT BioRobotics Co. has a 52-week low of $47.04 and a 52-week high of $103.81. The stock's 50 day moving average price is $56.75 and its 200 day moving average price is $73.36. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share 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 firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The business's quarterly revenue was up 55.5% compared to the same quarter last year. On average, research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current 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).