PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Osterweis Capital Management Inc.

Osterweis Capital Management Inc. lessened its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 35.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,745 shares of the company’s stock after selling 48,570 shares during the period. Osterweis Capital Management Inc.’s holdings in PROCEPT BioRobotics were worth $7,065,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PRCT. HighTower Advisors LLC acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter worth about $279,000. Geode Capital Management LLC grew its position in PROCEPT BioRobotics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock valued at $88,678,000 after buying an additional 84,244 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of PROCEPT BioRobotics during the third quarter valued at approximately $64,000. Franklin Resources Inc. raised its holdings in PROCEPT BioRobotics by 64.5% during the third quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after purchasing an additional 347,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of PROCEPT BioRobotics by 45.3% in the third quarter. Lord Abbett & CO. LLC now owns 748,555 shares of the company’s stock valued at $59,974,000 after buying an additional 233,430 shares during the period. Institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PRCT shares. Morgan Stanley dropped 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. Truist Financial dropped their price target on 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.43.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $52.81 on Thursday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -27.08 and a beta of 1.09. The firm has a 50 day moving average of $60.08 and a two-hundred day moving average of $75.17. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 12 month low of $47.04 and a 12 month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The company had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Reza Zadno sold 5,475 shares of the business’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 $312,403.50. Following the sale, the chief executive officer now directly owns 173,070 shares in the company, valued at approximately $9,875,374.20. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin Waters sold 733 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $57.06, for a total transaction of $41,824.98. Following the completion of the sale, the chief financial officer now directly owns 107,991 shares in the company, valued at $6,161,966.46. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,455 shares of company stock valued at $368,322 in the last quarter. Insiders own 17.40% of the company’s stock.

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).