Summit Partners Public Asset Management LLC Has $44.43 Million Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Summit Partners Public Asset Management LLC increased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 551,767 shares of the company's stock after acquiring an additional 8,721 shares during the period. PROCEPT BioRobotics comprises about 0.9% of Summit Partners Public Asset Management LLC's portfolio, making the stock its 17th largest position. Summit Partners Public Asset Management LLC owned about 1.06% of PROCEPT BioRobotics worth $44,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC grew its position in PROCEPT BioRobotics by 11.9% in the fourth quarter. FMR LLC now owns 8,159,208 shares of the company's stock valued at $656,979,000 after purchasing an additional 866,328 shares in the last quarter. Vanguard Group Inc. grew its position in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock valued at $413,907,000 after purchasing an additional 297,075 shares in the last quarter. Alliancebernstein L.P. grew its position in PROCEPT BioRobotics by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company's stock valued at $141,110,000 after purchasing an additional 218,148 shares in the last quarter. Wellington Management Group LLP grew its position in PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after purchasing an additional 416,819 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in PROCEPT BioRobotics by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company's stock valued at $93,751,000 after purchasing an additional 57,449 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PROCEPT BioRobotics

In other news, CFO Kevin Waters sold 733 shares of the firm's 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 completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 173,070 shares of the company's stock, valued at approximately $9,875,374.20. This represents a 3.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,455 shares of company stock worth $368,322. 6.60% of the stock is owned by insiders.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $58.07 on Friday. The firm has a 50-day moving average of $55.22 and a 200-day moving average of $72.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The company has a market cap of $3.21 billion, a PE ratio of -29.78 and a beta of 1.10. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRCT shares. Bank of America decreased their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial decreased their price objective 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. Finally, Morgan Stanley decreased their price objective 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and an average 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).

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