Geode Capital Management LLC raised its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,106,588 shares of the company's stock after buying an additional 84,244 shares during the period. Geode Capital Management LLC owned approximately 2.12% of PROCEPT BioRobotics worth $88,678,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PRCT. Values First Advisors Inc. acquired a new position in shares of PROCEPT BioRobotics during the third quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC bought a new position in PROCEPT BioRobotics during the 2nd quarter valued at $36,000. Quest Partners LLC increased its position in shares of PROCEPT BioRobotics by 2,492.3% during the 2nd quarter. Quest Partners LLC now owns 674 shares of the company's stock valued at $41,000 after purchasing an additional 648 shares during the period. Canton Hathaway LLC bought a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth $66,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of PROCEPT BioRobotics by 178.3% in the third 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. 89.46% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Bank of America boosted their target price on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Truist Financial restated a "buy" rating and set 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 PROCEPT BioRobotics in a report on Monday, December 2nd. They issued an "overweight" rating and a $105.00 price target on the stock. Finally, TD Cowen raised their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.86.
Read Our Latest Analysis on PROCEPT BioRobotics
Shares of NASDAQ:PRCT opened at $80.78 on Friday. The company's fifty day moving average is $88.06 and its two-hundred day moving average is $76.04. The company has a market cap of $4.22 billion, a P/E ratio of -41.43 and a beta of 0.99. PROCEPT BioRobotics Co. has a 12-month low of $39.48 and a 12-month high of $103.81. 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 (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, beating 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 firm had revenue of $58.40 million for the quarter, compared to analyst estimates of $53.30 million. During the same period in the previous year, the firm earned ($0.51) earnings per share. PROCEPT BioRobotics's quarterly revenue was up 66.4% on a year-over-year basis. Equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.
In related news, CFO Kevin Waters sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $6,964,077.12. This trade represents a 20.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 288,461 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $91.00, for a total value of $26,249,951.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 487,816 shares of company stock valued at $44,820,549 over the last three months. 17.40% of the stock is owned by corporate insiders.
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).
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