Blue Trust Inc. Sells 563 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Blue Trust Inc. lessened its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,878 shares of the company’s stock after selling 563 shares during the period. Blue Trust Inc.’s holdings in PROCEPT BioRobotics were worth $312,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PRCT. Westfield Capital Management Co. LP bought a new stake in PROCEPT BioRobotics in the 3rd quarter worth approximately $72,563,000. Perpetual Ltd bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at $66,972,000. Franklin Resources Inc. grew its position in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after acquiring an additional 347,330 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock valued at $33,350,000 after acquiring an additional 275,071 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of PROCEPT BioRobotics by 45.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after acquiring an additional 233,430 shares during the period. Institutional investors own 89.46% of the company’s stock.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 28,092 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total value of $2,728,575.96. Following the sale, the executive vice president now owns 52,472 shares in the company, valued at $5,096,605.36. The trade was a 34.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reza Zadno sold 26,423 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the sale, the chief executive officer now owns 152,762 shares in the company, valued at approximately $14,851,521.64. The trade was a 14.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,935 shares of company stock worth $7,882,089 in the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

PROCEPT BioRobotics Stock Down 1.0 %

PRCT opened at $66.92 on Wednesday. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -34.32 and a beta of 1.03. PROCEPT BioRobotics Co. has a fifty-two week low of $45.20 and a fifty-two week high of $103.81. 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 firm’s fifty day moving average is $78.51 and its 200 day moving average is $79.80.

Analyst Ratings Changes

PRCT has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. Finally, Morgan Stanley started coverage on shares of PROCEPT BioRobotics in a research note on Monday, December 2nd. They set an “overweight” rating and a $105.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.86.

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).