Geode Capital Management LLC Has $88.68 Million Stock Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Geode Capital Management LLC grew its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,106,588 shares of the company’s stock after purchasing an additional 84,244 shares during the quarter. Geode Capital Management LLC’s holdings in PROCEPT BioRobotics were worth $88,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Values First Advisors Inc. bought a new position in PROCEPT BioRobotics during the third quarter valued at about $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of PROCEPT BioRobotics during the 2nd quarter valued at about $36,000. Quest Partners LLC raised its stake in shares of PROCEPT BioRobotics by 2,492.3% in the 2nd quarter. Quest Partners LLC now owns 674 shares of the company’s stock valued at $41,000 after acquiring an additional 648 shares in the last quarter. Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics in the 3rd quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC grew its holdings in PROCEPT BioRobotics by 178.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,113 shares of the company’s stock valued at $89,000 after purchasing an additional 713 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Buying and Selling

In related news, CEO Reza Zadno sold 26,423 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $97.22, for a total transaction of $2,568,844.06. Following the completion of the sale, the chief executive officer now owns 152,762 shares in the company, valued at $14,851,521.64. This trade represents a 14.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.47, for a total transaction of $1,811,750.00. Following the sale, the chief financial officer now directly owns 96,096 shares of the company’s stock, valued at approximately $6,964,077.12. The trade was a 20.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 487,816 shares of company stock valued at $44,820,549 over the last quarter. Corporate insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Stock Down 1.7 %

PRCT stock opened at $80.78 on Friday. The business’s 50-day simple moving average is $88.06 and its 200 day simple moving average is $76.04. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21. The company has a market cap of $4.22 billion, a PE ratio of -41.43 and a beta of 0.99. PROCEPT BioRobotics Co. has a twelve month low of $39.48 and a twelve month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The business had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $53.30 million. During the same period in the previous year, the business posted ($0.51) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 66.4% on a year-over-year basis. On average, research analysts anticipate that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PRCT shares. Truist Financial restated a “buy” rating and issued a $105.00 price objective (up from $95.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, October 30th. Bank of America upped their price target on shares of PROCEPT BioRobotics from $80.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. TD Cowen lifted their price objective on PROCEPT BioRobotics from $75.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Company restated an “overweight” rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.86.

About PROCEPT BioRobotics

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).