Teacher Retirement System of Texas Takes $768,000 Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Teacher Retirement System of Texas bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,543 shares of the company’s stock, valued at approximately $768,000.

Several other large investors have also made changes to their positions in PRCT. State Street Corp lifted its stake in shares of PROCEPT BioRobotics by 5.9% in the 3rd 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 period. Geode Capital Management LLC lifted its position in shares of PROCEPT BioRobotics by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after purchasing an additional 84,244 shares in the last quarter. Franklin Resources Inc. boosted its position in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after purchasing an additional 347,330 shares during the last quarter. Perpetual Ltd bought a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at about $66,972,000. Finally, Lord Abbett & CO. LLC increased its position in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

PRCT has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and a consensus price target of $94.29.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $60.05 on Monday. The company has a market capitalization of $3.29 billion, a PE ratio of -30.79 and a beta of 1.05. 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 fifty day simple moving average of $65.34 and a 200 day simple moving average of $77.82. PROCEPT BioRobotics Co. has a twelve month low of $45.56 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. On average, sell-side analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current 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).