Artisan Partners Limited Partnership Cuts Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Artisan Partners Limited Partnership reduced its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,717 shares of the company’s stock after selling 24,712 shares during the quarter. Artisan Partners Limited Partnership owned about 0.82% of PROCEPT BioRobotics worth $34,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PRCT. Raleigh Capital Management Inc. bought a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth $32,000. Signaturefd LLC raised its position in PROCEPT BioRobotics by 26.7% during the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after purchasing an additional 145 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter worth about $58,000. Arcadia Investment Management Corp MI bought a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at about $64,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $64,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $60.05 on Friday. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -30.79 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 50-day moving average price of $65.34 and a 200-day moving average price of $77.81.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on PRCT. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research 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 reissued 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average target price of $94.29.

Insiders Place Their Bets

In other PROCEPT BioRobotics 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 transaction, the chief financial officer now owns 107,991 shares in the company, valued at approximately $6,161,966.46. This represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the 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 $312,403.50. Following the completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,455 shares of company stock worth $368,322. 17.40% of the stock is currently owned by corporate insiders.

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).