PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the company’s stock after selling 1,100 shares during the period. Handelsbanken Fonder AB’s holdings in PROCEPT BioRobotics were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PRCT. Raleigh Capital Management Inc. acquired a new stake in PROCEPT BioRobotics during the fourth quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth $64,000. Canton Hathaway LLC acquired a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth about $66,000. Nisa Investment Advisors LLC raised its holdings in PROCEPT BioRobotics by 178.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after buying an additional 713 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $120,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Activity at PROCEPT BioRobotics

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

Analyst Ratings Changes

PRCT has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They set a “hold” rating and a $95.00 price target for the company. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company restated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average price target of $94.29.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $65.02 on Friday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -33.34 and a beta of 1.03. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 52 week low of $45.20 and a 52 week high of $103.81. The company has a fifty day simple moving average of $75.25 and a two-hundred day simple moving average of $79.94.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) EPS 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%. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

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).