MetLife Investment Management LLC Acquires 2,144 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

MetLife Investment Management LLC raised its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,680 shares of the company’s stock after acquiring an additional 2,144 shares during the period. MetLife Investment Management LLC owned about 0.05% of PROCEPT BioRobotics worth $2,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRCT. Wilmington Savings Fund Society FSB bought a new position in PROCEPT BioRobotics in the third quarter valued at about $64,000. Franklin Resources Inc. grew its position in PROCEPT BioRobotics by 64.5% in the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock valued at $64,669,000 after acquiring an additional 347,330 shares during the last quarter. Lord Abbett & CO. LLC grew its position 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 acquiring an additional 233,430 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of PROCEPT BioRobotics by 290.2% during the third quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after purchasing an additional 51,030 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth about $453,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PROCEPT BioRobotics stock opened at $54.16 on Tuesday. The stock’s 50 day moving average is $57.48 and its 200 day moving average is $73.87. 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 firm has a market cap of $2.97 billion, a P/E ratio of -27.77 and a beta of 1.09. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) earnings per share. As a group, research analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total transaction of $312,403.50. Following the transaction, 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 through this link. Also, CFO Kevin Waters sold 733 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,455 shares of company stock valued at $368,322. 17.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PRCT has been the topic of several research reports. 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 report on Wednesday, February 26th. Truist Financial reduced their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Bank of America reduced their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and an average price target of $90.00.

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).