Baird Financial Group Inc. Buys 15,327 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Baird Financial Group Inc. raised its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 39.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 54,237 shares of the company's stock after purchasing an additional 15,327 shares during the period. Baird Financial Group Inc. owned 0.10% of PROCEPT BioRobotics worth $4,367,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. bought a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at approximately $32,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter worth $46,000. Signaturefd LLC boosted its stake in PROCEPT BioRobotics by 26.7% in the 4th quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after purchasing an additional 145 shares during the period. IFP Advisors Inc bought a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $58,000. Finally, Wilmington Savings Fund Society FSB bought a new position in PROCEPT BioRobotics in the 3rd quarter worth approximately $64,000. 89.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Kevin Waters sold 733 shares of the firm'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 $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 approximately $6,161,966.46. This trade represents a 0.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the firm'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 value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company's stock, valued at $9,875,374.20. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock valued at $368,322 in the last ninety days. Insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently 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 for the company 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 for the company in a report on Wednesday, February 26th. Finally, Bank of America dropped their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, PROCEPT BioRobotics has an average rating of "Moderate Buy" and a consensus price target of $90.00.

PROCEPT BioRobotics Price Performance

PRCT stock traded down $1.40 during trading on Tuesday, hitting $53.04. 1,292,402 shares of the company's stock traded hands, compared to its average volume of 808,595. PROCEPT BioRobotics Co. has a 52 week low of $47.04 and a 52 week high of $103.81. 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 business has a fifty day simple moving average of $55.33 and a 200 day simple moving average of $72.66. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -27.20 and a beta of 1.10.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly 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. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same quarter last year, the firm earned ($0.51) EPS. The firm's revenue for the quarter was up 55.5% compared to the same quarter last year. As a group, research analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).