M&G Plc Purchases 4,103 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

M&G Plc raised its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 143,565 shares of the company’s stock after acquiring an additional 4,103 shares during the period. M&G Plc’s holdings in PROCEPT BioRobotics were worth $11,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Essex Investment Management Co. LLC grew its stake in PROCEPT BioRobotics by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 80,992 shares of the company’s stock valued at $6,489,000 after buying an additional 228 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of PROCEPT BioRobotics in the third quarter valued at $27,000. Arizona State Retirement System raised its stake in shares of PROCEPT BioRobotics by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 12,840 shares of the company’s stock valued at $784,000 after purchasing an additional 350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PROCEPT BioRobotics by 4.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,913 shares of the company’s stock worth $606,000 after purchasing an additional 408 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in PROCEPT BioRobotics by 11.7% in the 3rd quarter. Blue Trust Inc. now owns 4,441 shares of the company’s stock worth $356,000 after purchasing an additional 466 shares during the period. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $96.23 on Friday. The firm has a 50 day simple moving average of $79.03 and a two-hundred day simple moving average of $69.62. The stock has a market cap of $5.02 billion, a PE ratio of -49.35 and a beta of 1.01. PROCEPT BioRobotics Co. has a one year low of $29.71 and a one year high of $99.34. 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 announced its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $53.30 million. During the same period in the previous year, the business earned ($0.51) earnings per share. The firm’s quarterly revenue was up 66.4% compared to the same quarter last year. On average, analysts predict that PROCEPT BioRobotics Co. will post -1.74 EPS for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 13,305 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $76.37, for a total value of $1,016,102.85. Following the completion of the sale, the director now owns 317,518 shares in the company, valued at $24,248,849.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Reza Zadno sold 288,461 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $91.00, for a total transaction of $26,249,951.00. Following the transaction, the chief executive officer now directly owns 258,445 shares of the company’s stock, valued at approximately $23,518,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai sold 13,305 shares of PROCEPT BioRobotics stock in a transaction dated Thursday, September 5th. The stock was 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 owns 317,518 shares in the company, valued at approximately $24,248,849.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 535,353 shares of company stock worth $46,627,426. 17.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRCT has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $75.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, October 8th. TD Cowen upped their target price on shares of PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a report on Wednesday, October 30th. Bank of America upped their price target on shares of 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 increased their price objective on PROCEPT BioRobotics from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PROCEPT BioRobotics has a consensus rating of “Buy” and an average target price of $88.40.

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).