Resona Asset Management Co. Ltd. Invests $488,000 in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Resona Asset Management Co. Ltd. purchased a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,023 shares of the company's stock, valued at approximately $488,000.

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

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the business'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 document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares of the company's stock, 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 ninety days, insiders sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT traded down $0.02 during mid-day trading on Wednesday, hitting $52.90. 171,163 shares of the stock traded hands, compared to its average volume of 776,338. The firm has a 50 day simple moving average of $60.08 and a two-hundred day simple moving average of $75.17. PROCEPT BioRobotics Co. has a twelve month low of $47.04 and a twelve month high of $103.81. The company has a market cap of $2.90 billion, a PE ratio of -27.16 and a beta of 1.09. 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 issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. As a group, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PRCT. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.43.

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).