Marshall Wace LLP Decreases Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Marshall Wace LLP trimmed its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 41.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,928 shares of the company's stock after selling 6,224 shares during the period. Marshall Wace LLP's holdings in PROCEPT BioRobotics were worth $719,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PRCT. Raleigh Capital Management Inc. bought a new stake in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $32,000. Signaturefd LLC increased its position in PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company's stock worth $55,000 after acquiring an additional 145 shares during the period. IFP Advisors Inc acquired a new stake in PROCEPT BioRobotics during the fourth quarter worth approximately $58,000. Wilmington Savings Fund Society FSB acquired a new position in PROCEPT BioRobotics in the third quarter valued at about $64,000. Finally, Arcadia Investment Management Corp MI bought a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at $64,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Truist Financial dropped their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.00.

PROCEPT BioRobotics Stock Performance

Shares of PRCT traded down $0.12 during mid-day trading on Wednesday, hitting $53.11. The stock had a trading volume of 598,496 shares, compared to its average volume of 803,315. PROCEPT BioRobotics Co. has a fifty-two week low of $47.04 and a fifty-two week high of $103.81. The company's fifty day simple moving average is $56.01 and its two-hundred day simple moving average is $73.02. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.94 billion, a PE ratio of -27.24 and a beta of 1.10.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $69.16 million during the quarter, compared to analysts' expectations of $65.39 million. During the same quarter in the prior year, the company earned ($0.51) EPS. The firm's quarterly revenue was up 55.5% on a year-over-year basis. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Waters sold 733 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,455 shares of company stock worth $368,322. Corporate insiders own 17.40% of the company's stock.

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).