Axiom Investors LLC DE Buys New Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Axiom Investors LLC DE purchased a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 91,001 shares of the company’s stock, valued at approximately $7,327,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of PROCEPT BioRobotics by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock worth $413,907,000 after purchasing an additional 297,075 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company’s stock valued at $120,051,000 after buying an additional 416,819 shares in the last quarter. State Street Corp grew its holdings in shares of PROCEPT BioRobotics by 5.9% during the third quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after buying an additional 66,175 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PROCEPT BioRobotics by 8.2% during the third quarter. Geode Capital Management LLC now owns 1,106,588 shares of the company’s stock worth $88,678,000 after acquiring an additional 84,244 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of PROCEPT BioRobotics by 64.5% in the 3rd quarter. Franklin Resources Inc. now owns 885,992 shares of the company’s stock worth $64,669,000 after acquiring an additional 347,330 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,475 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 $312,403.50. Following the sale, the chief executive officer now owns 173,070 shares of the company’s stock, valued at $9,875,374.20. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Waters sold 733 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $57.06, for a total value of $41,824.98. Following the completion of the transaction, the chief financial officer now directly owns 107,991 shares of the company’s stock, valued at $6,161,966.46. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,455 shares of company stock valued at $368,322 over the last ninety days. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $60.05 on Monday. The company has a market capitalization of $3.29 billion, a P/E ratio of -30.79 and a beta of 1.05. The company’s 50-day moving average is $65.34 and its 200 day moving average is $77.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.07 and a current ratio of 6.02. PROCEPT BioRobotics Co. has a fifty-two week low of $45.56 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results 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). The company had revenue of $68.24 million during the quarter, compared to analysts’ expectations of $66.79 million. PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. On average, equities research analysts forecast that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRCT. Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Morgan Stanley cut their price target 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.29.

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).