Federated Hermes Inc. Has $52.99 Million Stock Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Federated Hermes Inc. raised its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 30.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 658,130 shares of the company’s stock after acquiring an additional 151,904 shares during the quarter. Federated Hermes Inc. owned approximately 1.26% of PROCEPT BioRobotics worth $52,993,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PROCEPT BioRobotics by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,460 shares of the company’s stock valued at $9,331,000 after buying an additional 3,083 shares during the period. HighTower Advisors LLC bought a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $279,000. State Street Corp increased its position in PROCEPT BioRobotics by 5.9% during the 3rd quarter. State Street Corp now owns 1,179,514 shares of the company’s stock valued at $94,503,000 after purchasing an additional 66,175 shares during the period. EP Wealth Advisors LLC bought a new position in PROCEPT BioRobotics during the 3rd quarter worth approximately $1,158,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $1,081,000. Institutional investors own 89.46% of the company’s stock.

Insider Buying and Selling

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

PROCEPT BioRobotics Trading Down 0.8 %

PRCT opened at $50.83 on Tuesday. The company has a market cap of $2.79 billion, a P/E ratio of -26.07 and a beta of 1.09. The company has a fifty day moving average price of $63.30 and a two-hundred day moving average price of $76.69. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. PROCEPT BioRobotics Co. has a 1-year low of $46.99 and a 1-year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly 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). PROCEPT BioRobotics had a negative return on equity of 38.57% and a negative net margin of 50.07%. The firm had revenue of $68.24 million for the quarter, compared to analyst estimates of $66.79 million. Analysts predict that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Morgan Stanley lowered their price objective on PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.29.

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).