Citigroup Inc. Sells 14,773 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Citigroup Inc. trimmed its holdings in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 71.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,917 shares of the company’s stock after selling 14,773 shares during the quarter. Citigroup Inc.’s holdings in PROCEPT BioRobotics were worth $194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Amundi bought a new position in PROCEPT BioRobotics in the 4th quarter worth $37,000. Osaic Holdings Inc. raised its stake in shares of PROCEPT BioRobotics by 31.0% in the second quarter. Osaic Holdings Inc. now owns 1,430 shares of the company’s stock worth $51,000 after buying an additional 338 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter valued at about $71,000. UBS Group AG grew its stake in shares of PROCEPT BioRobotics by 127.9% during the 3rd quarter. UBS Group AG now owns 1,823 shares of the company’s stock valued at $75,000 after acquiring an additional 1,023 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in PROCEPT BioRobotics by 240.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,929 shares of the company’s stock worth $104,000 after acquiring an additional 2,068 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Price Performance

Shares of PRCT stock opened at $49.42 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.63 and a quick ratio of 6.77. The company has a market capitalization of $2.52 billion, a P/E ratio of -22.06 and a beta of 1.02. The company’s 50-day simple moving average is $48.39 and its two-hundred day simple moving average is $40.00. PROCEPT BioRobotics Co. has a one year low of $24.83 and a one year high of $52.32.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). The business had revenue of $43.58 million for the quarter, compared to the consensus estimate of $41.79 million. PROCEPT BioRobotics had a negative net margin of 77.75% and a negative return on equity of 46.59%. PROCEPT BioRobotics’s revenue for the quarter was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.56) earnings per share. As a group, equities analysts anticipate that PROCEPT BioRobotics Co. will post -2 EPS for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Reza Zadno sold 5,391 shares of PROCEPT BioRobotics stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $48.83, for a total transaction of $263,242.53. Following the completion of the sale, the chief executive officer now owns 241,319 shares of the company’s stock, valued at approximately $11,783,606.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PROCEPT BioRobotics news, CFO Kevin Waters sold 17,310 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.07, for a total transaction of $780,161.70. Following the sale, the chief financial officer now directly owns 33,523 shares of the company’s stock, valued at approximately $1,510,881.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reza Zadno sold 5,391 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $48.83, for a total value of $263,242.53. Following the sale, the chief executive officer now directly owns 241,319 shares in the company, valued at $11,783,606.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,459 shares of company stock valued at $6,153,402. Insiders own 19.60% of the company’s stock.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of PROCEPT BioRobotics from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Wells Fargo & Company lifted their price objective on PROCEPT BioRobotics from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $45.60.

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).