Allspring Global Investments Holdings LLC Sells 61,466 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Allspring Global Investments Holdings LLC cut its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 32.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,139 shares of the company’s stock after selling 61,466 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PROCEPT BioRobotics were worth $10,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in 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 last quarter. Bellevue Group AG grew its holdings in shares of PROCEPT BioRobotics by 0.5% in the first quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after acquiring an additional 4,768 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PROCEPT BioRobotics by 8.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock valued at $31,027,000 after acquiring an additional 51,305 shares during the last quarter. Blair William & Co. IL bought a new stake in PROCEPT BioRobotics during the first quarter worth $21,240,000. Finally, Driehaus Capital Management LLC lifted its holdings in PROCEPT BioRobotics by 25.9% during the second quarter. Driehaus Capital Management LLC now owns 349,394 shares of the company’s stock worth $21,344,000 after acquiring an additional 71,930 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin Waters sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at $6,964,077.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Kevin Waters sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the transaction, the chief financial officer now owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antal Rohit Desai sold 35,220 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $76.12, for a total transaction of $2,680,946.40. Following the completion of the sale, the director now owns 23,963 shares in the company, valued at $1,824,063.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,892 shares of company stock worth $13,946,415 in the last quarter. 17.40% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $68.77 on Friday. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $85.81. The stock has a market capitalization of $3.57 billion, a P/E ratio of -33.38 and a beta of 1.03. 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’s 50 day moving average is $75.86 and its 200 day moving average is $67.04.

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

Analyst Ratings Changes

A number of research firms have recently commented on PRCT. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. Truist Financial boosted their target price 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. Wells Fargo & Company raised their price target on shares of PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen upped their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Bank of America raised 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $86.40.

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).