Invesco Ltd. Boosts Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Invesco Ltd. lifted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 86.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 499,949 shares of the company's stock after buying an additional 231,470 shares during the period. Invesco Ltd. owned approximately 0.96% of PROCEPT BioRobotics worth $40,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of PROCEPT BioRobotics by 11.9% in the 4th quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after purchasing an additional 866,328 shares in the last quarter. Federated Hermes Inc. raised its stake in PROCEPT BioRobotics by 30.0% in the fourth quarter. Federated Hermes Inc. now owns 658,130 shares of the company's stock valued at $52,993,000 after buying an additional 151,904 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in PROCEPT BioRobotics by 130.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,202 shares of the company's stock worth $3,398,000 after acquiring an additional 23,861 shares in the last quarter. Sit Investment Associates Inc. grew its stake in shares of PROCEPT BioRobotics by 42.6% during the fourth quarter. Sit Investment Associates Inc. now owns 12,835 shares of the company's stock worth $1,033,000 after acquiring an additional 3,835 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at about $488,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock traded down $0.63 during trading hours on Tuesday, hitting $52.80. The company's stock had a trading volume of 963,089 shares, compared to its average volume of 788,117. The stock has a market cap of $2.89 billion, a PE ratio of -27.08 and a beta of 1.09. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month high of $103.81. The company has a 50 day moving average of $58.90 and a 200 day moving average of $74.53. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to analysts' expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. On average, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on PRCT shares. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Morgan Stanley dropped their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, PROCEPT BioRobotics has an average rating of "Moderate Buy" and an average target price of $91.43.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the company'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 $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reza Zadno sold 5,475 shares of the firm'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 sale, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is owned by corporate insiders.

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).