Xponance Inc. Increases Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Xponance Inc. lifted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,162 shares of the company’s stock after buying an additional 394 shares during the period. Xponance Inc.’s holdings in PROCEPT BioRobotics were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Perpetual Ltd purchased a new stake in PROCEPT BioRobotics during the fourth quarter valued at approximately $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 raised its holdings in PROCEPT BioRobotics by 218.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock worth $33,350,000 after purchasing an additional 275,071 shares during the period. Lord Abbett & CO. LLC lifted its position in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after purchasing an additional 233,430 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in PROCEPT BioRobotics during the third quarter valued at about $11,890,000. Institutional investors own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRCT. Truist Financial reaffirmed a “buy” rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PROCEPT BioRobotics has an average rating of “Moderate Buy” and an average price target of $94.29.

PROCEPT BioRobotics Trading Down 2.8 %

PRCT stock opened at $60.05 on Friday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -30.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81. The business has a 50 day simple moving average of $65.34 and a two-hundred day simple moving average of $77.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $68.24 million for the quarter, compared to the consensus estimate of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. Research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock valued at $368,322 over the last 90 days. 17.40% of the stock is owned by corporate insiders.

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).