William Blair Investment Management LLC Boosts Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

William Blair Investment Management LLC grew its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,285 shares of the company’s stock after acquiring an additional 26,783 shares during the period. William Blair Investment Management LLC owned about 0.46% of PROCEPT BioRobotics worth $19,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 51,030 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $842,000. KBC Group NV increased its holdings in shares of PROCEPT BioRobotics by 32.6% in the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock valued at $123,000 after purchasing an additional 376 shares during the last quarter. Swiss National Bank grew its holdings in PROCEPT BioRobotics by 5.8% in the 3rd quarter. Swiss National Bank now owns 95,400 shares of the company’s stock valued at $7,643,000 after buying an additional 5,200 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of PROCEPT BioRobotics by 6,823.1% in the third quarter. Avior Wealth Management LLC now owns 3,600 shares of the company’s stock valued at $288,000 after purchasing an additional 3,548 shares during the period. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $57.80 on Thursday. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81. The firm has a 50 day simple moving average of $68.87 and a 200-day simple moving average of $78.75. 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 $3.17 billion, a PE ratio of -29.64 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. On average, equities analysts expect that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.

Insider Transactions at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 733 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 value of $41,824.98. Following the completion of the transaction, the chief financial officer now owns 107,991 shares of the company’s stock, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Reza Zadno sold 5,475 shares of the company’s 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 sale, the chief executive officer now directly owns 173,070 shares in the company, valued at $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PRCT has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a report on Tuesday, December 3rd. Morgan Stanley reduced their target price on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $90.00 price objective (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.29.

PROCEPT BioRobotics Company 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).