Northern Trust Corp Buys 60,098 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Northern Trust Corp boosted its position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,468 shares of the company’s stock after purchasing an additional 60,098 shares during the quarter. Northern Trust Corp owned about 0.86% of PROCEPT BioRobotics worth $35,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRCT. FMR LLC raised its holdings in shares of PROCEPT BioRobotics by 11.9% during the 4th quarter. FMR LLC now owns 8,159,208 shares of the company’s stock worth $656,979,000 after buying an additional 866,328 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock worth $413,907,000 after buying an additional 297,075 shares during the period. Alliancebernstein L.P. boosted its holdings in PROCEPT BioRobotics by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,752,478 shares of the company’s stock valued at $141,110,000 after acquiring an additional 218,148 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PROCEPT BioRobotics by 38.8% in the 4th quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after purchasing an additional 416,819 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in PROCEPT BioRobotics by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,164,037 shares of the company’s stock worth $93,751,000 after acquiring an additional 57,449 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRCT shares. 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 report on Wednesday, February 26th. Bank of America lowered their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Truist Financial dropped their target price 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $53.12 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -27.24 and a beta of 1.10. The stock has a fifty day simple moving average of $55.66 and a two-hundred day simple moving average of $72.82. 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 Co. has a 1-year low of $47.04 and a 1-year high of $103.81.

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

Insiders Place Their Bets

In other news, CFO Kevin Waters sold 733 shares of the firm’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 $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares in the company, valued at approximately $6,161,966.46. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 5,475 shares of the business’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 transaction of $312,403.50. Following the transaction, the chief executive officer now directly owns 173,070 shares of the company’s stock, valued at approximately $9,875,374.20. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,455 shares of company stock worth $368,322 over the last 90 days. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics 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).