PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Transatlantique Private Wealth LLC

Transatlantique Private Wealth LLC decreased its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 18.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 118,436 shares of the company’s stock after selling 26,175 shares during the quarter. PROCEPT BioRobotics comprises 3.6% of Transatlantique Private Wealth LLC’s investment portfolio, making the stock its 3rd largest holding. Transatlantique Private Wealth LLC’s holdings in PROCEPT BioRobotics were worth $9,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCT. HighTower Advisors LLC acquired a new position in PROCEPT BioRobotics during the 3rd quarter valued at about $279,000. Wilmington Savings Fund Society FSB bought a new stake in shares of PROCEPT BioRobotics during the third quarter worth approximately $64,000. Franklin Resources Inc. raised its stake in shares of PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after buying an additional 347,330 shares during the last quarter. Lord Abbett & CO. LLC lifted 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 valued at $59,974,000 after buying an additional 233,430 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in PROCEPT BioRobotics by 290.2% in the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock valued at $5,498,000 after acquiring an additional 51,030 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the completion of the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Waters sold 733 shares of PROCEPT BioRobotics stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % 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 worth $368,322. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $53.03 on Friday. The stock’s fifty day simple moving average is $59.16 and its 200 day simple moving average is $74.66. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.91 billion, a PE ratio of -27.19 and a beta of 1.09. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $66.79 million. On average, research analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial cut their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Morgan Stanley reduced 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.43.

PROCEPT BioRobotics Profile

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).