PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 2,239.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,800 shares of the company's stock after buying an additional 51,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.10% of PROCEPT BioRobotics worth $4,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in 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 acquiring an additional 866,328 shares in the last quarter. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $66,972,000. Wellington Management Group LLP boosted its stake in shares of PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after purchasing an additional 416,819 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of 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 in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. 89.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRCT. Bank of America dropped their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, 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 research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Reza Zadno sold 5,475 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 transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,455 shares of company stock valued at $368,322. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Stock Up 3.2 %

NASDAQ:PRCT traded up $1.67 during midday trading on Monday, reaching $54.16. 998,224 shares of the stock traded hands, compared to its average volume of 810,718. PROCEPT BioRobotics Co. has a 12-month low of $47.04 and a 12-month high of $103.81. The business has a 50-day moving average of $57.48 and a two-hundred day moving average of $73.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a market capitalization of $2.97 billion, a PE ratio of -27.77 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. PROCEPT BioRobotics's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) earnings per share. On average, equities analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal 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).