Diversified Trust Co Sells 5,168 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Diversified Trust Co lowered its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 44.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,424 shares of the company’s stock after selling 5,168 shares during the period. Diversified Trust Co’s holdings in PROCEPT BioRobotics were worth $515,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PRCT. Vanguard Group Inc. raised its stake in PROCEPT BioRobotics by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,246,749 shares of the company’s stock valued at $209,874,000 after buying an additional 62,164 shares during the period. Wellington Management Group LLP raised its stake in PROCEPT BioRobotics by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 1,065,698 shares of the company’s stock valued at $44,663,000 after acquiring an additional 260,946 shares during the period. Bellevue Group AG lifted its holdings in PROCEPT BioRobotics by 0.5% during the 1st quarter. Bellevue Group AG now owns 890,114 shares of the company’s stock valued at $43,989,000 after purchasing an additional 4,768 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in PROCEPT BioRobotics by 8.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,822 shares of the company’s stock worth $31,027,000 after purchasing an additional 51,305 shares during the period. Finally, Blair William & Co. IL acquired a new position in shares of PROCEPT BioRobotics in the first quarter valued at $21,240,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRCT shares. Piper Sandler restated an “overweight” rating and set a $75.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday. TD Cowen raised their price objective on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Truist Financial upped their target price on PROCEPT BioRobotics from $74.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their price target on PROCEPT BioRobotics from $80.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $78.17.

PROCEPT BioRobotics Trading Down 2.5 %

Shares of PRCT stock opened at $72.31 on Friday. The stock has a market cap of $3.72 billion, a P/E ratio of -34.11 and a beta of 1.03. PROCEPT BioRobotics Co. has a 1 year low of $24.83 and a 1 year high of $85.81. The company has a current ratio of 7.51, a quick ratio of 6.49 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $74.08 and a 200 day simple moving average of $65.25.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.02. PROCEPT BioRobotics had a negative return on equity of 37.85% and a negative net margin of 58.73%. The company had revenue of $53.35 million for the quarter, compared to analyst estimates of $50.10 million. During the same period in the prior year, the firm posted ($0.56) EPS. PROCEPT BioRobotics’s quarterly revenue was up 61.2% on a year-over-year basis. On average, research analysts predict that PROCEPT BioRobotics Co. will post -1.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the transaction, the director now directly owns 317,518 shares in the company, valued at approximately $24,248,849.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 13,305 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total transaction of $1,016,102.85. Following the completion of the sale, the director now directly owns 317,518 shares in the company, valued at $24,248,849.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $82.51, for a total value of $2,062,750.00. Following the completion of the sale, the chief financial officer now directly owns 96,096 shares in the company, valued at approximately $7,928,880.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,892 shares of company stock worth $12,134,665 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

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).