Lord Abbett & CO. LLC Sells 123,335 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Lord Abbett & CO. LLC reduced its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,220 shares of the company's stock after selling 123,335 shares during the period. Lord Abbett & CO. LLC owned 1.20% of PROCEPT BioRobotics worth $50,343,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics during the 4th quarter worth $32,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter worth approximately $46,000. Signaturefd LLC lifted its holdings in shares of PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after buying an additional 145 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $58,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of PROCEPT BioRobotics in the third quarter worth $64,000. Institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT traded down $0.31 during trading on Thursday, reaching $53.67. The stock had a trading volume of 277,757 shares, compared to its average volume of 810,795. The stock has a market capitalization of $2.97 billion, a PE ratio of -27.52 and a beta of 1.09. PROCEPT BioRobotics Co. has a 52 week low of $47.04 and a 52 week high of $103.81. The business's 50-day moving average price is $57.13 and its 200 day moving average price is $73.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07.

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

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the sale, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Waters sold 733 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 value of $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,455 shares of company stock valued at $368,322. 17.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRCT. Truist Financial cut their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Bank of America lowered their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley decreased their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.00.

PROCEPT BioRobotics 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).