Wellington Management Group LLP Grows Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Wellington Management Group LLP raised its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 32.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,065,698 shares of the company’s stock after buying an additional 260,946 shares during the quarter. Wellington Management Group LLP owned about 2.09% of PROCEPT BioRobotics worth $44,663,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH lifted its position in shares of PROCEPT BioRobotics by 42.9% during the fourth quarter. Allianz Asset Management GmbH now owns 96,635 shares of the company’s stock valued at $4,050,000 after buying an additional 28,999 shares during the last quarter. Point72 Europe London LLP lifted its position in shares of PROCEPT BioRobotics by 30.5% during the fourth quarter. Point72 Europe London LLP now owns 530,071 shares of the company’s stock valued at $22,215,000 after buying an additional 123,800 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PROCEPT BioRobotics by 10.4% during the third quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock valued at $133,697,000 after buying an additional 385,271 shares during the last quarter. American Century Companies Inc. lifted its position in shares of PROCEPT BioRobotics by 14.2% during the third quarter. American Century Companies Inc. now owns 655,295 shares of the company’s stock valued at $21,500,000 after buying an additional 81,534 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PROCEPT BioRobotics by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,117 shares of the company’s stock valued at $14,045,000 after buying an additional 13,868 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRCT. Truist Financial increased their price objective on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Piper Sandler increased their price objective on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, TD Cowen increased their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Buy” and a consensus target price of $61.20.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $62.18, for a total transaction of $621,800.00. Following the completion of the transaction, the executive vice president now directly owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Alaleh Nouri sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $62.18, for a total transaction of $621,800.00. Following the sale, the executive vice president now owns 52,472 shares of the company’s stock, valued at approximately $3,262,708.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hisham Shiblaq sold 26,046 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $68.24, for a total transaction of $1,777,379.04. Following the sale, the executive vice president now directly owns 55,860 shares in the company, valued at approximately $3,811,886.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,478 shares of company stock valued at $5,515,482. 17.40% of the stock is owned by insiders.

PROCEPT BioRobotics Stock Performance

PRCT opened at $59.92 on Monday. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $77.00. The company has a current ratio of 8.52, a quick ratio of 7.44 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.08 billion, a PE ratio of -28.26 and a beta of 1.04. The firm has a 50 day moving average of $61.78 and a two-hundred day moving average of $51.94.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The company had revenue of $44.50 million during the quarter, compared to analyst estimates of $41.58 million. During the same period last year, the firm posted ($0.63) EPS. PROCEPT BioRobotics’s revenue for the quarter was up 82.4% compared to the same quarter last year. On average, analysts anticipate that PROCEPT BioRobotics Co. will post -1.93 EPS for the current year.

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).