Massachusetts Financial Services Co. MA Sells 22,778 Shares of PROCEPT BioRobotics Corporation $PRCT

Massachusetts Financial Services Co. MA trimmed its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,227 shares of the company’s stock after selling 22,778 shares during the period. Massachusetts Financial Services Co. MA owned about 0.47% of PROCEPT BioRobotics worth $8,281,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth $30,000. US Bancorp DE raised its stake in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares during the period. Lazard Asset Management LLC raised its stake in shares of PROCEPT BioRobotics by 90.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after purchasing an additional 810 shares during the period. Osaic Holdings Inc. raised its stake in shares of PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after purchasing an additional 337 shares during the period. Finally, IFP Advisors Inc increased its holdings in PROCEPT BioRobotics by 24.0% in the 3rd quarter. IFP Advisors Inc now owns 5,024 shares of the company’s stock worth $179,000 after acquiring an additional 974 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Down 4.5%

PRCT stock opened at $24.52 on Friday. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.38 billion, a PE ratio of -14.34 and a beta of 0.94. PROCEPT BioRobotics Corporation has a twelve month low of $19.35 and a twelve month high of $66.85. The stock has a 50-day simple moving average of $25.99 and a two-hundred day simple moving average of $30.27.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The company had revenue of $76.38 million for the quarter, compared to analysts’ expectations of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. On average, equities analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRCT has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. Wall Street Zen lowered PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. TD Cowen decreased their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Leerink Partners decreased their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Truist Financial decreased their price objective on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Hold” and a consensus target price of $40.82.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai bought 167,246 shares of PROCEPT BioRobotics stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $25.58 per share, with a total value of $4,278,152.68. Following the acquisition, the director directly owned 167,246 shares of the company’s stock, valued at $4,278,152.68. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alaleh Nouri sold 6,892 shares of PROCEPT BioRobotics stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $163,340.40. Following the transaction, the executive vice president directly owned 114,264 shares of the company’s stock, valued at $2,708,056.80. The trade was a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. Insiders own 6.60% of the company’s stock.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.