Zurcher Kantonalbank Zurich Cantonalbank Has $1.13 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,968 shares of the company’s stock after purchasing an additional 652 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PROCEPT BioRobotics were worth $1,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its position in PROCEPT BioRobotics by 5.9% in the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares during the last quarter. Geode Capital Management LLC raised its holdings in PROCEPT BioRobotics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after buying an additional 84,244 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in PROCEPT BioRobotics during the 3rd quarter worth approximately $72,563,000. Franklin Resources Inc. grew its holdings in PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in PROCEPT BioRobotics in the 4th quarter valued at approximately $66,972,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $57.80 on Thursday. The company has a market cap of $3.17 billion, a P/E ratio of -29.64 and a beta of 1.05. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $68.87 and a two-hundred day moving average price of $78.75. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. As a group, analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, 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 value of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 in the last quarter. Company insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PRCT shares. Morgan Stanley reduced their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Truist Financial restated a “buy” rating and set a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.29.

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).