Perpetual Ltd Buys New Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Perpetual Ltd purchased a new stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 831,739 shares of the company’s stock, valued at approximately $66,972,000. Perpetual Ltd owned approximately 1.59% of PROCEPT BioRobotics as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PRCT. State Street Corp boosted its stake in shares of PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares in the last quarter. Geode Capital Management LLC boosted its position in PROCEPT BioRobotics by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after acquiring an additional 84,244 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $72,563,000. Franklin Resources Inc. raised its position in shares of PROCEPT BioRobotics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of PROCEPT BioRobotics by 45.3% in the 3rd 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 during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Down 3.6 %

Shares of PROCEPT BioRobotics stock opened at $76.02 on Tuesday. PROCEPT BioRobotics Co. has a twelve month low of $44.02 and a twelve month 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 company’s 50 day moving average is $88.09 and its 200 day moving average is $79.18.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. PROCEPT BioRobotics’s revenue was up 66.4% compared to the same quarter last year. Research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 288,461 shares of PROCEPT BioRobotics stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now owns 258,445 shares in the company, valued at $23,518,495. This trade represents a 52.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Antal Rohit Desai sold 34,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $95.39, for a total transaction of $3,243,260.00. Following the sale, the director now directly owns 164,363 shares of the company’s stock, valued at approximately $15,678,586.57. The trade was a 17.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,816 shares of company stock worth $43,008,799 in the last three months. 17.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRCT shares. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a report on Monday, December 2nd. They set an “overweight” rating and a $105.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $75.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, October 8th. Finally, Jefferies Financial Group initiated coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.86.

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).