PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 28.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,350 shares of the company’s stock after buying an additional 2,758 shares during the period. Advisors Asset Management Inc.’s holdings in PROCEPT BioRobotics were worth $989,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PRCT. M&G Plc bought a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $8,507,000. Federated Hermes Inc. boosted its holdings in PROCEPT BioRobotics by 788.9% in the second quarter. Federated Hermes Inc. now owns 183,420 shares of the company’s stock worth $11,205,000 after purchasing an additional 162,785 shares during the period. Nicholas Investment Partners LP bought a new stake in PROCEPT BioRobotics during the second quarter valued at $4,657,000. Vanguard Group Inc. raised its holdings in shares of PROCEPT BioRobotics by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock worth $209,874,000 after purchasing an additional 62,164 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of PROCEPT BioRobotics by 290.2% in the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after buying an additional 51,030 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $99.27 on Wednesday. PROCEPT BioRobotics Co. has a 12-month low of $33.45 and a 12-month high of $103.81. The company has a market cap of $5.18 billion, a PE ratio of -50.91 and a beta of 1.01. The stock has a 50 day simple moving average of $82.73 and a 200-day simple moving average of $72.86. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling

In other news, CEO Reza Zadno sold 288,461 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of the sale, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This represents a 52.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $82.51, for a total transaction of $2,062,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at $7,928,880.96. This trade represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,773 shares of company stock valued at $49,073,125 over the last 90 days. 17.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PRCT has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Wells Fargo & Company raised their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. TD Cowen boosted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Bank of America increased their target price on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.50.

About PROCEPT BioRobotics

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).