PROCEPT BioRobotics Co. (NASDAQ:PRCT) Stake Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 82.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,848 shares of the company’s stock after selling 761,589 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.32% of PROCEPT BioRobotics worth $6,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc increased its position in PROCEPT BioRobotics by 4.5% in the 4th quarter. Legal & General Group Plc now owns 6,843 shares of the company’s stock worth $284,000 after purchasing an additional 295 shares during the last quarter. Osaic Holdings Inc. increased its holdings in PROCEPT BioRobotics by 31.0% in the second quarter. Osaic Holdings Inc. now owns 1,430 shares of the company’s stock worth $51,000 after buying an additional 338 shares during the last quarter. Credit Suisse AG raised its position in PROCEPT BioRobotics by 6.0% during the third quarter. Credit Suisse AG now owns 7,594 shares of the company’s stock valued at $314,000 after acquiring an additional 430 shares in the last quarter. Amalgamated Bank lifted its stake in PROCEPT BioRobotics by 8.8% in the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock valued at $180,000 after acquiring an additional 442 shares during the last quarter. Finally, Blue Trust Inc. grew its position in PROCEPT BioRobotics by 30.9% in the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock worth $110,000 after acquiring an additional 620 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PRCT shares. Wells Fargo & Company upped their price objective on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Truist Financial upped their price target on PROCEPT BioRobotics from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Buy” and an average price target of $45.60.

PROCEPT BioRobotics Trading Down 0.4 %

PROCEPT BioRobotics stock opened at $51.79 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. PROCEPT BioRobotics Co. has a fifty-two week low of $24.83 and a fifty-two week high of $54.50. The firm has a fifty day moving average price of $49.04 and a two-hundred day moving average price of $41.67.

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

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $128,295.83. Following the completion of the sale, the executive vice president now directly owns 62,913 shares of the company’s stock, valued at approximately $2,936,149.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kevin Waters sold 1,024 shares of PROCEPT BioRobotics stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $48.83, for a total transaction of $50,001.92. Following the sale, the chief financial officer now owns 102,149 shares of the company’s stock, valued at approximately $4,987,935.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alaleh Nouri sold 2,749 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total value of $128,295.83. Following the completion of the transaction, the executive vice president now owns 62,913 shares of the company’s stock, valued at $2,936,149.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,149 shares of company stock valued at $4,653,720. 19.60% of the stock is owned by company insiders.

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).