M&T Bank Corp Makes New $293,000 Investment in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

M&T Bank Corp acquired a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCTFree Report) in the third quarter, Holdings Channel reports. The institutional investor acquired 8,922 shares of the company’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in shares of PROCEPT BioRobotics by 1.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,904,003 shares of the company’s stock worth $127,622,000 after buying an additional 58,511 shares in the last quarter. Vanguard Group Inc. boosted its stake in PROCEPT BioRobotics by 15.5% during the third quarter. Vanguard Group Inc. now owns 2,838,524 shares of the company’s stock worth $117,685,000 after buying an additional 381,894 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in PROCEPT BioRobotics by 4.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,697,885 shares of the company’s stock worth $112,071,000 after buying an additional 124,102 shares during the period. BlackRock Inc. boosted its stake in PROCEPT BioRobotics by 36.1% during the second quarter. BlackRock Inc. now owns 2,580,126 shares of the company’s stock worth $91,207,000 after buying an additional 684,194 shares during the period. Finally, State Street Corp boosted its stake in PROCEPT BioRobotics by 33.2% during the second quarter. State Street Corp now owns 1,062,730 shares of the company’s stock worth $37,568,000 after buying an additional 265,072 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PRCT shares. Wells Fargo & Company lifted their price objective on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Truist Financial boosted their price objective on PROCEPT BioRobotics from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 22nd. SVB Leerink started coverage on PROCEPT BioRobotics in a report on Monday, October 16th. They set an “outperform” rating and a $37.00 price objective for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of PROCEPT BioRobotics in a report on Monday, October 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, PROCEPT BioRobotics has an average rating of “Buy” and an average price target of $44.00.

View Our Latest Stock Analysis on PRCT

PROCEPT BioRobotics Price Performance

Shares of PRCT stock opened at $47.37 on Wednesday. The stock has a fifty day simple moving average of $41.99 and a two-hundred day simple moving average of $35.68. The company has a current ratio of 8.91, a quick ratio of 7.89 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -20.33 and a beta of 1.02. PROCEPT BioRobotics Co. has a twelve month low of $24.83 and a twelve month high of $49.39.

PROCEPT BioRobotics (NASDAQ:PRCTGet Free Report) last posted its earnings results on Wednesday, November 1st. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.02. The company had revenue of $35.10 million during the quarter, compared to analyst estimates of $33.44 million. PROCEPT BioRobotics had a negative return on equity of 50.06% and a negative net margin of 91.56%. PROCEPT BioRobotics’s revenue was up 72.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.51) earnings per share. On average, analysts predict that PROCEPT BioRobotics Co. will post -2.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 17,310 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.07, for a total transaction of $780,161.70. Following the completion of the sale, the chief financial officer now owns 33,523 shares in the company, valued at $1,510,881.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Kevin Waters sold 17,310 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.07, for a total transaction of $780,161.70. Following the completion of the sale, the chief financial officer now owns 33,523 shares of the company’s stock, valued at $1,510,881.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alaleh Nouri sold 6,096 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $39.96, for a total transaction of $243,596.16. Following the sale, the executive vice president now directly owns 46,933 shares of the company’s stock, valued at approximately $1,875,442.68. The disclosure for this sale can be found here. Insiders sold a total of 229,323 shares of company stock worth $9,059,208 over the last 90 days. Company insiders own 19.60% of the company’s stock.

PROCEPT BioRobotics Company Profile

(Free Report)

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It 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).

Further Reading

Want to see what other hedge funds are holding PRCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROCEPT BioRobotics Co. (NASDAQ:PRCTFree Report).

Institutional Ownership by Quarter for PROCEPT BioRobotics (NASDAQ:PRCT)

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