PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,827 shares of the company’s stock after selling 28,729 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PROCEPT BioRobotics were worth $27,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock worth $413,907,000 after acquiring an additional 297,075 shares in the last quarter. Alliancebernstein L.P. increased its stake in PROCEPT BioRobotics by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock worth $141,110,000 after purchasing an additional 218,148 shares during the period. Wellington Management Group LLP increased its stake in PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock worth $120,051,000 after purchasing an additional 416,819 shares during the period. State Street Corp lifted its position in shares of PROCEPT BioRobotics by 5.9% during the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock worth $94,503,000 after purchasing an additional 66,175 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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 during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRCT shares. Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley cut their price objective on 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average price target of $94.29.

Insider Activity

In related news, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction that occurred 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. 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 currently owned by insiders.

PROCEPT BioRobotics Stock Down 6.5 %

Shares of PROCEPT BioRobotics stock opened at $51.23 on Monday. PROCEPT BioRobotics Co. has a 52-week low of $46.99 and a 52-week high of $103.81. The company has a 50 day moving average of $63.77 and a 200 day moving average of $76.92. 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 capitalization of $2.81 billion, a P/E ratio of -26.27 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its 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 firm had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. As a group, research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).