Massachusetts Financial Services Co. MA decreased its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,556 shares of the company's stock after selling 32,339 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.70% of PROCEPT BioRobotics worth $29,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRCT. Intech Investment Management LLC acquired a new stake in PROCEPT BioRobotics during the 3rd quarter valued at approximately $979,000. Advisors Asset Management Inc. raised its holdings in shares of PROCEPT BioRobotics by 28.8% during the third quarter. Advisors Asset Management Inc. now owns 12,350 shares of the company's stock worth $989,000 after purchasing an additional 2,758 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PROCEPT BioRobotics during the third quarter valued at $1,371,000. Segall Bryant & Hamill LLC purchased a new stake in PROCEPT BioRobotics in the third quarter valued at $8,076,000. Finally, Avior Wealth Management LLC grew its position in PROCEPT BioRobotics by 6,823.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,600 shares of the company's stock worth $288,000 after purchasing an additional 3,548 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.
NASDAQ:PRCT opened at $97.78 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. The stock has a market capitalization of $5.10 billion, a PE ratio of -50.14 and a beta of 1.01. PROCEPT BioRobotics Co. has a fifty-two week low of $33.45 and a fifty-two week high of $103.81. The company has a fifty day moving average of $82.41 and a two-hundred day moving average of $72.62.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The company's revenue for the quarter was up 66.4% on a year-over-year basis. As a group, research analysts forecast that PROCEPT BioRobotics Co. will post -1.74 earnings per share for the current fiscal year.
A number of analysts have recently commented on PRCT shares. Piper Sandler restated an "overweight" rating and issued a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, October 8th. TD Cowen lifted their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the company a "buy" rating in a report on Monday, September 16th. Jefferies Financial Group started coverage on shares of PROCEPT BioRobotics in a report on Thursday, November 14th. They set a "hold" rating and a $95.00 price target on the stock. Truist Financial reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Finally, Bank of America increased their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.
Check Out Our Latest Analysis on PROCEPT BioRobotics
In related news, CEO Reza Zadno sold 26,420 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $92.57, for a total transaction of $2,445,699.40. Following the transaction, the chief executive officer now directly owns 205,605 shares in the company, valued at approximately $19,032,854.85. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the stock in a transaction dated 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 sale, 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 20.64 % decrease in their position. 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 quarter. 17.40% of the stock is currently owned by insiders.
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).
Before you consider PROCEPT BioRobotics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PROCEPT BioRobotics wasn't on the list.
While PROCEPT BioRobotics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.