PROCEPT BioRobotics Corporation $PRCT Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 17.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 607,929 shares of the company’s stock after selling 132,068 shares during the period. JPMorgan Chase & Co.’s holdings in PROCEPT BioRobotics were worth $21,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRCT. Advisory Services Network LLC raised its position in PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after purchasing an additional 250 shares during the period. Vega Investment Solutions grew its holdings in shares of PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the period. Frank Rimerman Advisors LLC grew its holdings in shares of PROCEPT BioRobotics by 0.3% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock worth $4,368,000 after purchasing an additional 307 shares during the period. RiverPark Advisors LLC increased its position in shares of PROCEPT BioRobotics by 22.5% during the 2nd quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock worth $101,000 after purchasing an additional 324 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after purchasing an additional 337 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Insider Activity

In related news, EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the completion of the transaction, the executive vice president owned 152,264 shares in the company, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 6,892 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $163,340.40. Following the sale, the executive vice president directly owned 114,264 shares in the company, valued at approximately $2,708,056.80. The trade was a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. Insiders own 17.40% of the company’s stock.

PROCEPT BioRobotics Price Performance

PRCT opened at $25.10 on Wednesday. The stock’s 50-day moving average price is $27.77 and its 200 day moving average price is $31.78. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $66.85. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -14.68 and a beta of 1.02. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The firm had revenue of $76.38 million during the quarter, compared to analyst estimates of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. As a group, sell-side analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Analyst Ratings Changes

PRCT has been the topic of a number of recent analyst reports. Jefferies Financial Group cut shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Leerink Partners dropped their price target on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Bank of America downgraded shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. Finally, Robert W. Baird assumed coverage on shares of PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.82.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company’s technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company’s flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.