Ballentine Partners LLC Takes $5.57 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Ballentine Partners LLC bought a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 133,000 shares of the company's stock, valued at approximately $5,574,000. Ballentine Partners LLC owned about 0.26% of PROCEPT BioRobotics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Amundi purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $37,000. Osaic Holdings Inc. raised its position in shares of PROCEPT BioRobotics by 31.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,430 shares of the company's stock worth $51,000 after acquiring an additional 338 shares in the last quarter. Ronald Blue Trust Inc. acquired a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $71,000. UBS Group AG increased its position in PROCEPT BioRobotics by 127.9% during the 3rd quarter. UBS Group AG now owns 1,823 shares of the company's stock valued at $75,000 after buying an additional 1,023 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in PROCEPT BioRobotics by 240.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,929 shares of the company's stock valued at $104,000 after buying an additional 2,068 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,391 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $48.83, for a total transaction of $263,242.53. Following the completion of the sale, the chief executive officer now owns 241,319 shares of the company's stock, valued at $11,783,606.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Reza Zadno sold 5,391 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $48.83, for a total transaction of $263,242.53. Following the completion of the transaction, the chief executive officer now directly owns 241,319 shares in the company, valued at $11,783,606.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Waters sold 17,310 shares of the firm's stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.07, for a total value of $780,161.70. Following the transaction, the chief financial officer now owns 33,523 shares of the company's stock, valued at $1,510,881.61. The disclosure for this sale can be found here. Insiders sold a total of 127,459 shares of company stock valued at $6,153,402 over the last quarter. 19.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an "overweight" rating in a report on Tuesday, January 9th. Truist Financial upped their target price on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $45.60.

PROCEPT BioRobotics Price Performance

PRCT stock traded down $0.01 during mid-day trading on Wednesday, reaching $46.55. 428,144 shares of the company's stock were exchanged, compared to its average volume of 492,990. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -20.78 and a beta of 1.01. The stock's 50 day moving average is $48.50 and its 200 day moving average is $40.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $52.32.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.10). The company had revenue of $43.58 million during the quarter, compared to analyst estimates of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. PROCEPT BioRobotics's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.56) EPS. On average, research analysts expect that PROCEPT BioRobotics Co. will post -2 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).