Man Group plc Purchases 192,352 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Man Group plc grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 303.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,752 shares of the company's stock after purchasing an additional 192,352 shares during the period. Man Group plc owned approximately 0.49% of PROCEPT BioRobotics worth $20,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PRCT. Perpetual Ltd acquired a new position in shares of PROCEPT BioRobotics in the fourth quarter worth about $66,972,000. Oak Ridge Investments LLC grew its position in PROCEPT BioRobotics by 24.0% during the 4th quarter. Oak Ridge Investments LLC now owns 30,059 shares of the company's stock worth $2,420,000 after purchasing an additional 5,817 shares in the last quarter. SG Americas Securities LLC grew its position in PROCEPT BioRobotics by 295.8% during the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after purchasing an additional 4,931 shares in the last quarter. Chicago Capital LLC raised its stake in PROCEPT BioRobotics by 44.5% during the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock valued at $30,564,000 after purchasing an additional 116,931 shares during the period. Finally, Matisse Capital lifted its holdings in shares of PROCEPT BioRobotics by 112.9% in the fourth quarter. Matisse Capital now owns 22,285 shares of the company's stock valued at $1,794,000 after purchasing an additional 11,817 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 0.4%

NASDAQ PRCT traded down $0.24 on Thursday, reaching $56.41. The stock had a trading volume of 141,075 shares, compared to its average volume of 816,298. 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 Co. has a 1 year low of $47.04 and a 1 year high of $103.81. The business has a 50 day moving average price of $55.30 and a 200 day moving average price of $71.35. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -28.88 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. The business had revenue of $69.16 million during the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm's revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.51) EPS. On average, analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Activity

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Waters sold 733 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value 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 $6,161,966.46. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRCT has been the topic of a number of research analyst reports. Bank of America lowered their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Morgan Stanley lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial reduced their price target 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.00.

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).