Invesco Ltd. Boosts Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Invesco Ltd. grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 499,949 shares of the company’s stock after buying an additional 231,470 shares during the quarter. Invesco Ltd. owned 0.96% of PROCEPT BioRobotics worth $40,256,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after acquiring an additional 866,328 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of PROCEPT BioRobotics by 30.0% during the fourth quarter. Federated Hermes Inc. now owns 658,130 shares of the company’s stock worth $52,993,000 after purchasing an additional 151,904 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of PROCEPT BioRobotics by 130.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,202 shares of the company’s stock worth $3,398,000 after buying an additional 23,861 shares during the period. Sit Investment Associates Inc. grew its stake in shares of PROCEPT BioRobotics by 42.6% in the fourth quarter. Sit Investment Associates Inc. now owns 12,835 shares of the company’s stock valued at $1,033,000 after buying an additional 3,835 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of PROCEPT BioRobotics during the 4th quarter valued at about $488,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $52.81 on Thursday. PROCEPT BioRobotics Co. has a 52 week low of $47.04 and a 52 week high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.89 billion, a P/E ratio of -27.08 and a beta of 1.09. The stock has a 50 day moving average of $60.08 and a 200-day moving average of $75.17.

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The shares were 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 $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction 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 trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 over the last three months. 17.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PRCT shares. Truist Financial decreased their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a report on Friday, April 11th. Morgan Stanley decreased their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.43.

PROCEPT BioRobotics Company Profile

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).