Arizona State Retirement System Grows Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Arizona State Retirement System raised its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,504 shares of the company’s stock after acquiring an additional 1,602 shares during the period. Arizona State Retirement System’s holdings in PROCEPT BioRobotics were worth $524,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in PROCEPT BioRobotics by 18.2% in the first quarter. JPMorgan Chase & Co. now owns 5,353 shares of the company’s stock valued at $188,000 after acquiring an additional 825 shares during the period. Bank of New York Mellon Corp grew its holdings in PROCEPT BioRobotics by 59.8% during the 1st quarter. Bank of New York Mellon Corp now owns 22,079 shares of the company’s stock valued at $772,000 after buying an additional 8,265 shares in the last quarter. MetLife Investment Management LLC purchased a new position in PROCEPT BioRobotics during the 1st quarter valued at approximately $175,000. Rhumbline Advisers purchased a new position in PROCEPT BioRobotics during the 1st quarter valued at approximately $253,000. Finally, BlackRock Inc. boosted its holdings in shares of PROCEPT BioRobotics by 9.8% in the 1st quarter. BlackRock Inc. now owns 352,791 shares of the company’s stock worth $12,344,000 after purchasing an additional 31,486 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PROCEPT BioRobotics

In related news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at approximately $1,676,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kevin Waters sold 904 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares of the company’s stock, valued at approximately $1,676,150. 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 5,391 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $48.83, for a total value of $263,242.53. Following the transaction, the chief executive officer now directly owns 241,319 shares of the company’s stock, valued at approximately $11,783,606.77. The disclosure for this sale can be found here. Insiders have sold 94,149 shares of company stock worth $4,653,720 over the last quarter. 19.60% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Down 1.7 %

PROCEPT BioRobotics stock opened at $50.19 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.77 and a current ratio of 7.63. The business’s 50-day simple moving average is $49.08 and its two-hundred day simple moving average is $41.86. The company has a market cap of $2.56 billion, a PE ratio of -22.41 and a beta of 1.01. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $54.50.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). PROCEPT BioRobotics had a negative return on equity of 46.59% and a negative net margin of 77.75%. The company had revenue of $43.58 million during the quarter, compared to analysts’ expectations of $41.79 million. During the same quarter in the previous year, the company earned ($0.56) EPS. The firm’s quarterly revenue was up 83.3% compared to the same quarter last year. Equities analysts anticipate that PROCEPT BioRobotics Co. will post -2 EPS for the current year.

Analyst Ratings Changes

PRCT has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Truist Financial boosted their price target on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Buy” and an average price target of $45.60.

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).