PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 16.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 399,895 shares of the company’s stock after selling 76,610 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.78% of PROCEPT BioRobotics worth $24,430,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PRCT. Quest Partners LLC lifted its stake in shares of PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock worth $41,000 after acquiring an additional 648 shares during the period. Fairman Group LLC acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth $84,000. RiverPark Advisors LLC acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter worth $135,000. nVerses Capital LLC lifted its stake in shares of PROCEPT BioRobotics by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $147,000 after acquiring an additional 1,800 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth $201,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PRCT shares. TD Cowen raised their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Bank of America raised their price objective on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Truist Financial raised their price objective on shares of PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company raised their price objective on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $78.17.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kevin Waters sold 25,000 shares of PROCEPT BioRobotics stock in a transaction dated 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 sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $7,928,880.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the sale, the director now owns 317,518 shares of the company’s stock, valued at $24,248,849.66. The disclosure for this sale can be found here. In the last three months, insiders sold 154,892 shares of company stock worth $12,134,665. 17.40% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $84.99 on Friday. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $71.24 and a two-hundred day moving average price of $62.55. PROCEPT BioRobotics Co. has a twelve month low of $24.83 and a twelve month high of $85.81. The company has a market capitalization of $4.37 billion, a P/E ratio of -40.09 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The firm had revenue of $53.35 million during the quarter, compared to the consensus estimate of $50.10 million. During the same period last year, the firm posted ($0.56) EPS. The firm’s revenue for the quarter was up 61.2% on a year-over-year basis. As a group, research analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal 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).