Cibc World Markets Corp Purchases Shares of 4,169 PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Cibc World Markets Corp acquired a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 4,169 shares of the company’s stock, valued at approximately $336,000.

A number of other hedge funds have also recently made changes to their positions in PRCT. State Street Corp lifted its position in PROCEPT BioRobotics by 5.9% in the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after acquiring an additional 66,175 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PROCEPT BioRobotics by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after purchasing an additional 84,244 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after purchasing an additional 347,330 shares in the last quarter. Perpetual Ltd purchased a new position in shares of PROCEPT BioRobotics during the fourth quarter valued at approximately $66,972,000. Finally, Lord Abbett & CO. LLC grew its holdings in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after buying an additional 233,430 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PRCT shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial reiterated 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.29.

Insider Buying and Selling at PROCEPT BioRobotics

In related 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 sale, the chief financial officer now owns 107,991 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $60.90 on Tuesday. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month 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 company has a market cap of $3.34 billion, a PE ratio of -31.23 and a beta of 1.05. The stock has a 50-day moving average price of $66.71 and a 200-day moving average price of $78.25.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $68.24 million during the quarter, compared to analysts’ expectations 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 forecast 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).