Northern Trust Corp Grows Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Northern Trust Corp lifted its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 15.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 446,468 shares of the company’s stock after acquiring an additional 60,098 shares during the quarter. Northern Trust Corp’s holdings in PROCEPT BioRobotics were worth $35,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PRCT. FMR LLC boosted its holdings in shares of PROCEPT BioRobotics by 11.9% in the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after purchasing an additional 866,328 shares in the last quarter. Vanguard Group Inc. boosted its stake in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock worth $413,907,000 after buying an additional 297,075 shares in the last quarter. Alliancebernstein L.P. grew its position in PROCEPT BioRobotics by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after acquiring an additional 218,148 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of PROCEPT BioRobotics by 38.8% during the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock worth $120,051,000 after acquiring an additional 416,819 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of PROCEPT BioRobotics by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company’s stock worth $93,751,000 after acquiring an additional 57,449 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Insider Activity

In related news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,455 shares of company stock valued at $368,322. Corporate insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America decreased their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Truist Financial lowered their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley reduced their price target on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and an average target price of $90.00.

PROCEPT BioRobotics Trading Down 3.1 %

PRCT opened at $53.12 on Friday. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50 day simple moving average of $55.66 and a two-hundred day simple moving average of $72.82. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -27.24 and a beta of 1.10.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share. Analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS 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).