PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC trimmed its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,104 shares of the company’s stock after selling 1,088 shares during the period. Main Management ETF Advisors LLC’s holdings in PROCEPT BioRobotics were worth $975,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of PROCEPT BioRobotics by 11.9% in the fourth quarter. FMR LLC now owns 8,159,208 shares of the company’s stock valued at $656,979,000 after acquiring an additional 866,328 shares in the last quarter. Vanguard Group Inc. lifted its position in PROCEPT BioRobotics by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after purchasing an additional 297,075 shares during the period. Alliancebernstein L.P. boosted its holdings in PROCEPT BioRobotics by 14.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after purchasing an additional 218,148 shares in the last quarter. Wellington Management Group LLP increased its position in PROCEPT BioRobotics by 38.8% during the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock worth $120,051,000 after purchasing an additional 416,819 shares during the period. Finally, Geode Capital Management LLC increased its position in PROCEPT BioRobotics by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company’s stock worth $93,751,000 after purchasing an additional 57,449 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

PRCT opened at $53.04 on Wednesday. PROCEPT BioRobotics Co. has a 1-year low of $47.04 and a 1-year high of $103.81. The stock has a market cap of $2.93 billion, a P/E ratio of -27.20 and a beta of 1.10. The stock’s 50 day simple moving average is $55.33 and its 200 day simple moving average is $72.66. 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 (NASDAQ:PRCT) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $65.39 million. During the same period in the previous year, the business earned ($0.51) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 55.5% compared to the same quarter last year. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CFO Kevin Waters sold 733 shares of the stock in a transaction on Tuesday, March 18th. The stock was 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 represents a 0.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction dated 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 owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,455 shares of company stock valued at $368,322. Insiders own 6.60% of the company’s stock.

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).