PROCEPT BioRobotics Co. (NASDAQ:PRCT) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 40.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,240 shares of the company’s stock after selling 8,184 shares during the period. Brown Advisory Inc.’s holdings in PROCEPT BioRobotics were worth $513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in PROCEPT BioRobotics by 30.9% during the fourth quarter. Blue Trust Inc. now owns 2,629 shares of the company’s stock valued at $110,000 after buying an additional 620 shares in the last quarter. Glass Jacobson Investment Advisors llc acquired a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $138,000. Amalgamated Bank lifted its position in PROCEPT BioRobotics by 8.8% during the third quarter. Amalgamated Bank now owns 5,488 shares of the company’s stock valued at $180,000 after buying an additional 442 shares in the last quarter. Jump Financial LLC acquired a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $201,000. Finally, M&T Bank Corp purchased a new stake in shares of PROCEPT BioRobotics during the third quarter valued at approximately $293,000. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Trading Up 0.3 %

Shares of NASDAQ:PRCT opened at $66.90 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.44 and a current ratio of 8.52. The company has a fifty day simple moving average of $55.33 and a 200 day simple moving average of $47.59. PROCEPT BioRobotics Co. has a 12-month low of $24.83 and a 12-month high of $77.00.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The business’s revenue was up 82.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. Analysts expect that PROCEPT BioRobotics Co. will post -1.93 EPS for the current year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the sale, the executive vice president now owns 62,913 shares in the company, valued at $2,936,149.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 2,749 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.67, for a total transaction of $128,295.83. Following the completion of the sale, the executive vice president now owns 62,913 shares in the company, valued at $2,936,149.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas M. Krummel sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the sale, the director now owns 45,631 shares of the company’s stock, valued at approximately $2,737,860. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,651 shares of company stock worth $4,168,073. Insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Truist Financial lifted their price objective on shares of PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen lifted their price objective on shares of PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $61.20.

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).