Allspring Global Investments Holdings LLC Sells 761,589 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Allspring Global Investments Holdings LLC reduced its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 82.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,848 shares of the company's stock after selling 761,589 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.32% of PROCEPT BioRobotics worth $6,783,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PRCT. Amundi purchased a new position in PROCEPT BioRobotics during the fourth quarter worth about $37,000. Osaic Holdings Inc. increased its holdings in PROCEPT BioRobotics by 31.0% in the second quarter. Osaic Holdings Inc. now owns 1,430 shares of the company's stock valued at $51,000 after buying an additional 338 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in PROCEPT BioRobotics in the third quarter valued at about $71,000. UBS Group AG increased its holdings in PROCEPT BioRobotics by 127.9% in the third 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 holdings in PROCEPT BioRobotics by 240.2% in the second 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.

Insider Buying and Selling

In related news, CFO Kevin Waters sold 904 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total transaction of $45,200.00. Following the sale, the chief financial officer now owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $48.83, for a total value of $263,242.53. Following the transaction, the chief executive officer now owns 241,319 shares of the company's stock, valued at approximately $11,783,606.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 904 shares of the firm's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $50.00, for a total transaction of $45,200.00. Following the completion of the transaction, the chief financial officer now directly owns 33,523 shares in the company, valued at approximately $1,676,150. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,149 shares of company stock worth $4,653,720. 19.60% of the stock is owned by insiders.

PROCEPT BioRobotics Price Performance

Shares of PRCT stock traded down $0.71 during trading hours on Thursday, hitting $51.08. The company's stock had a trading volume of 635,935 shares, compared to its average volume of 496,700. The business has a fifty day moving average of $49.08 and a 200-day moving average of $41.73. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -22.80 and a beta of 1.01. PROCEPT BioRobotics Co. has a twelve month low of $24.83 and a twelve month high of $54.50. The company has a current ratio of 7.63, a quick ratio of 6.77 and a debt-to-equity ratio of 0.18.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PRCT shares. Truist Financial increased their target price on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, February 28th. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Tuesday, January 9th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $45.60.

About PROCEPT BioRobotics

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).