M&G Plc Takes $8.51 Million Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

M&G Plc bought a new stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 139,462 shares of the company’s stock, valued at approximately $8,507,000. M&G Plc owned approximately 0.27% of PROCEPT BioRobotics at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PRCT. Contravisory Investment Management Inc. acquired a new position in PROCEPT BioRobotics in the second quarter worth approximately $311,000. Castleark Management LLC acquired a new position in PROCEPT BioRobotics during the first quarter worth $2,841,000. Bellevue Group AG lifted its position in shares of PROCEPT BioRobotics by 0.5% in the first quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock worth $43,989,000 after buying an additional 4,768 shares during the last quarter. Evolutionary Tree Capital Management LLC boosted its stake in shares of PROCEPT BioRobotics by 1.6% during the 1st quarter. Evolutionary Tree Capital Management LLC now owns 49,887 shares of the company’s stock worth $2,465,000 after acquiring an additional 781 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of PROCEPT BioRobotics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after acquiring an additional 62,164 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Hisham Shiblaq sold 26,046 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $68.24, for a total value of $1,777,379.04. Following the sale, the executive vice president now directly owns 55,860 shares in the company, valued at $3,811,886.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Hisham Shiblaq sold 26,046 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $68.24, for a total value of $1,777,379.04. Following the transaction, the executive vice president now directly owns 55,860 shares of the company’s stock, valued at approximately $3,811,886.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alaleh Nouri sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $62.18, for a total value of $621,800.00. Following the sale, the executive vice president now owns 52,472 shares in the company, valued at $3,262,708.96. The disclosure for this sale can be found here. 17.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price target on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Wells Fargo & Company lifted their price target on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and issued a $74.00 price objective (down from $79.00) on shares of PROCEPT BioRobotics in a research report on Friday, August 2nd. Finally, TD Cowen upped their target price on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $66.00.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT traded up $1.27 during midday trading on Tuesday, reaching $64.60. 423,601 shares of the company’s stock were exchanged, compared to its average volume of 565,543. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.44 and a current ratio of 7.51. The company’s 50 day simple moving average is $63.95 and its two-hundred day simple moving average is $57.11. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $77.00. The firm has a market capitalization of $3.35 billion, a PE ratio of -30.36 and a beta of 1.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.02. The firm had revenue of $53.35 million during the quarter, compared to analyst estimates of $50.10 million. PROCEPT BioRobotics had a negative net margin of 58.73% and a negative return on equity of 37.85%. The company’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) earnings per share. Equities research analysts expect that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

PROCEPT BioRobotics 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).