Massachusetts Financial Services Co. MA Has $29.45 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Massachusetts Financial Services Co. MA decreased its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 8.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 367,556 shares of the company’s stock after selling 32,339 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PROCEPT BioRobotics were worth $29,449,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PRCT. Chicago Capital LLC acquired a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at $14,233,000. Federated Hermes Inc. raised its stake in shares of PROCEPT BioRobotics by 788.9% in the 2nd quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock valued at $11,205,000 after buying an additional 162,785 shares in the last quarter. Transatlantique Private Wealth LLC acquired a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at $9,164,000. M&G Plc acquired a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at $8,507,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth about $8,076,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They issued a “hold” rating and a $95.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, TD Cowen upped their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

PROCEPT BioRobotics Stock Up 4.5 %

Shares of NASDAQ:PRCT opened at $97.78 on Tuesday. PROCEPT BioRobotics Co. has a 12 month low of $33.45 and a 12 month high of $103.81. The company’s 50-day moving average price is $82.41 and its two-hundred day moving average price is $72.62. 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 firm has a market cap of $5.10 billion, a P/E ratio of -50.14 and a beta of 1.01.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company’s revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.51) EPS. As a group, research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total value of $1,811,750.00. Following the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. This trade represents a 20.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the transaction, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 561,773 shares of company stock valued at $49,073,125. 17.40% of the stock is currently owned by insiders.

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).