Federated Hermes Inc. Has $31.42 Million Stock Holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Federated Hermes Inc. trimmed its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,220 shares of the company’s stock after selling 118,910 shares during the quarter. Federated Hermes Inc. owned about 0.97% of PROCEPT BioRobotics worth $31,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PRCT. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter worth about $30,000. Thematics Asset Management bought a new position in PROCEPT BioRobotics in the 4th quarter valued at about $46,000. CWM LLC lifted its position in PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company’s stock worth $51,000 after acquiring an additional 358 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of PROCEPT BioRobotics by 32.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company’s stock worth $64,000 after acquiring an additional 270 shares during the period. Finally, IFP Advisors Inc grew its position in shares of PROCEPT BioRobotics by 358.9% in the first quarter. IFP Advisors Inc now owns 3,313 shares of the company’s stock valued at $193,000 after purchasing an additional 2,591 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Antal Rohit Desai sold 25,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the transaction, the director owned 14,363 shares of the company’s stock, valued at approximately $883,180.87. The trade was a 63.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 100,000 shares of company stock valued at $6,271,250. Company insiders own 6.60% of the company’s stock.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $51.35 on Thursday. The company’s 50 day simple moving average is $58.65 and its 200 day simple moving average is $60.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.95 and a quick ratio of 7.75. PROCEPT BioRobotics Corporation has a 1 year low of $47.04 and a 1 year high of $103.81. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -30.21 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRCT. Truist Financial lowered their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Stephens initiated coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an “overweight” rating and a $70.00 price objective on the stock. Morgan Stanley dropped their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, July 15th. Oppenheimer assumed coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a “market perform” rating for the company. Finally, Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average target price of $84.13.

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).