PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stock Position Lifted by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC raised its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 12.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 115,970 shares of the company’s stock after purchasing an additional 13,260 shares during the quarter. Biondo Investment Advisors LLC’s holdings in PROCEPT BioRobotics were worth $9,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Perpetual Ltd acquired a new stake in PROCEPT BioRobotics during the fourth quarter valued at $66,972,000. Franklin Resources Inc. raised its stake in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after purchasing an additional 347,330 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after buying an additional 297,075 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PROCEPT BioRobotics by 218.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock valued at $33,350,000 after buying an additional 275,071 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in PROCEPT BioRobotics by 45.3% in 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 during the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

PRCT has been the subject of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Wells Fargo & Company reiterated an “overweight” rating and issued a $112.00 price objective on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Finally, Morgan Stanley cut their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.29.

Insider Transactions at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Reza Zadno sold 5,475 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $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 worth $368,322 over the last three months. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $60.05 on Friday. The company has a market capitalization of $3.29 billion, a PE ratio of -30.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. PROCEPT BioRobotics Co. has a one year low of $45.56 and a one year high of $103.81. The company’s fifty day moving average price is $65.34 and its 200 day moving average price is $77.81.

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

About PROCEPT BioRobotics

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).