First Trust Advisors LP Sells 915 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

First Trust Advisors LP decreased its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 110,982 shares of the company’s stock after selling 915 shares during the quarter. First Trust Advisors LP’s holdings in PROCEPT BioRobotics were worth $8,936,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at about $32,000. Signaturefd LLC increased its position in shares of PROCEPT BioRobotics by 26.7% in the fourth quarter. Signaturefd LLC now owns 689 shares of the company’s stock valued at $55,000 after acquiring an additional 145 shares during the period. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at about $58,000. Arcadia Investment Management Corp MI purchased a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at about $64,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics in the third quarter valued at about $64,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Ratings Changes

PRCT has been the topic of a number of analyst reports. Bank of America decreased their price objective on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday. Truist Financial reduced their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley reduced their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Insider Transactions at PROCEPT BioRobotics

In other news, CEO Reza Zadno sold 5,475 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total value of $312,403.50. Following the transaction, the chief executive officer now owns 173,070 shares in the company, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,455 shares of company stock worth $368,322. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Trading Up 3.2 %

NASDAQ:PRCT opened at $54.16 on Tuesday. PROCEPT BioRobotics Co. has a one year low of $47.04 and a one year high of $103.81. 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 company’s 50-day simple moving average is $57.48 and its 200 day simple moving average is $73.87. The firm has a market capitalization of $2.97 billion, a P/E ratio of -27.77 and a beta of 1.09.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).