PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by EntryPoint Capital LLC

EntryPoint Capital LLC lessened its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 9.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,273 shares of the company’s stock after selling 577 shares during the period. EntryPoint Capital LLC’s holdings in PROCEPT BioRobotics were worth $425,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Perpetual Ltd acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter worth $66,972,000. Franklin Resources Inc. boosted its position in shares of PROCEPT BioRobotics by 64.5% during the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PROCEPT BioRobotics by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after acquiring an additional 297,075 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of PROCEPT BioRobotics by 218.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 401,210 shares of the company’s stock worth $33,350,000 after acquiring an additional 275,071 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in PROCEPT BioRobotics by 45.3% during the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock worth $59,974,000 after purchasing an additional 233,430 shares during the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PROCEPT BioRobotics

In other news, 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 transaction of $41,824.98. Following the completion of the sale, the chief financial officer now owns 107,991 shares in the company, valued at $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reza Zadno sold 5,475 shares of PROCEPT BioRobotics stock in a transaction on Tuesday, March 18th. The shares were 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 trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,455 shares of company stock worth $368,322 in the last quarter. Company insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $62.53 on Wednesday. The company’s 50 day simple moving average is $66.71 and its 200-day simple moving average is $78.25. The firm has a market cap of $3.43 billion, a PE ratio of -32.07 and a beta of 1.05. PROCEPT BioRobotics Co. has a 12-month low of $45.56 and a 12-month high of $103.81. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $66.79 million. As a group, equities analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PRCT shares. Truist Financial reiterated a “buy” rating and issued a $90.00 price target (down from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.29.

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).