Massachusetts Institute of Technology purchased a new position in shares of PROCEPT BioRobotics Co during the first quarter. (NASDAQ:PRCT – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,034 shares of the company’s stock, valued at approximately $333,000. PROCEPT BioRobotics makes up about 0.1% of Massachusetts Institute of Technology’s holdings, making the stock its 7th largest holding.
Several other hedge funds also bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. purchased a new position in PROCEPT BioRobotics during the third quarter valued at approximately $242,000. Legal & General Group Plc raised its stake in PROCEPT BioRobotics by 1,209.2% in the second quarter. Legal & General Group Plc now owns 9,295 shares of the company’s stock valued at $304,000 after acquiring an additional 8,585 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in PROCEPT BioRobotics by 42.7% in the second quarter. Goldman Sachs Group Inc. now owns 15,270 shares of the company’s stock valued at $499,000 after acquiring an additional 4,566 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in PROCEPT BioRobotics by 1.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,904,003 shares of the company’s stock valued at $127,622,000 after acquiring an additional 58,511 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in PROCEPT BioRobotics by 323.6% in the second quarter. Driehaus Capital Management LLC now owns 762,885 shares of the company’s stock valued at $24,939,000 after acquiring an additional 582,789 shares in the last quarter. Hedge funds and other businesses own 66.40% of the company.
Wall Street Analyst Weight In
A number of brokerages recently weighed in on PRCT. KeyCorp upped their target price on shares of PROCEPT BioRobotics from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, November 4th. Truist Financial upped their price target on shares of PROCEPT BioRobotics from $56.00 to $58.00 in a report on Monday, November 14th. Wells Fargo & Company cut their price objective on shares of PROCEPT BioRobotics from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, January 12th. Goldman Sachs raised their price target on shares of PROCEPT BioRobotics from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 4th. Finally, BTIG Research initiated coverage on shares of PROCEPT BioRobotics in a report on Monday, October 31st. They put a “political” rating on the property. Two equities research analysts have rated the stock with a hold rating and six have issued 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 $44.75.
Internal Affairs at PROCEPT BioRobotics
In related news, EVP Alaleh Nouri sold 20,000 shares of PROCEPT BioRobotics stock in a transaction on Monday, December 19. The stock sold at an average price of $43.23, worth $864,600.00. Following the acquisition, the senior vice president now owns 7,126 shares in the company, valued at approximately $308,056.98. The transaction was disclosed in a regulatory filing with the SEC, which is available through this link. Insiders have sold 43,064 shares of company stock worth $1,829,318 over the past three months. Insiders own 40.80% of the company’s stock.
PROCEPT BioRobotics Stock Performance
Shares of PRCT traded up $0.29 during mid-day trading on Friday, reaching $38.86. 299 shares of the company changed hands, compared to its volume of 378,232. The company has a debt ratio of 0.24, a current ratio of 10.56 and a quick ratio of 9.74. The stock has a market capitalization of $1.74 billion, a PE ratio of -22.21 and a beta of 0.85. The fifty day moving average is $41.97 and the 200 day moving average is $41.05. PROCEPT BioRobotics Co. it has a 52-week low of $15.38 and a 52-week high of $52.40.
PROCEPT BioRobotics (NASDAQ:PRCT – Get Rating ) last posted its quarterly earnings data on Thursday, November 3. The company reported ($0.51) earnings per share for the quarter, missing analysts’ estimates of ($0.47) and ($0.04). PROCEPT BioRobotics had a margin of error of 126.00% and a margin of error of 31.57%. The company had revenue of $20.35 million for the quarter, compared to analysts’ expectations of $17.25 million. On average, equities research analysts expect that PROCEPT BioRobotics Co. it will provide -1.87 earnings per share for the year.
Company Profile of PROCEPT BioRobotics
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PROCEPT BioRobotics Corporation, a surgical robotics company, develops revolutionary procedures in urology. It designs, manufactures, and markets the AquaBeam Robotic System, an image-guided, robotic system for use in urologic surgery focused on the treatment of benign prostatic hyperplasia (BPH).
Further Reading
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