Robocap Asset Management Ltd Lowers Stock Position in PROCEPT BioRobotics Corporation $PRCT

Robocap Asset Management Ltd cut its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 28.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,842 shares of the company’s stock after selling 38,998 shares during the period. PROCEPT BioRobotics accounts for 2.8% of Robocap Asset Management Ltd’s holdings, making the stock its 16th biggest position. Robocap Asset Management Ltd’s holdings in PROCEPT BioRobotics were worth $3,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PRCT. Alliancebernstein L.P. boosted its holdings in PROCEPT BioRobotics by 58.6% during the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock worth $122,052,000 after buying an additional 1,262,928 shares in the last quarter. Chicago Capital LLC boosted its holdings in PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after buying an additional 999,873 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in PROCEPT BioRobotics by 229.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company’s stock worth $40,269,000 after buying an additional 786,094 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in PROCEPT BioRobotics by 105.2% during the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock worth $51,909,000 after buying an additional 745,778 shares in the last quarter. Finally, UBS Group AG raised its position in PROCEPT BioRobotics by 129.3% during the third quarter. UBS Group AG now owns 944,545 shares of the company’s stock worth $33,711,000 after acquiring an additional 532,530 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PRCT. Bank of America cut shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $38.00 to $20.00 in a research report on Thursday, February 26th. Leerink Partners reduced their price objective 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. Piper Sandler restated an “overweight” rating and set a $35.00 price objective (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Finally, Wells Fargo & Company reduced their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.45.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT opened at $24.63 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The business’s 50 day moving average price is $25.18 and its 200-day moving average price is $29.50. The firm has a market capitalization of $1.40 billion, a PE ratio of -13.53 and a beta of 0.83. PROCEPT BioRobotics Corporation has a 1 year low of $19.35 and a 1 year high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The firm had revenue of $83.13 million during the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.16% and a negative net margin of 31.82%.The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) earnings per share. As a group, equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.54 earnings per share for the current fiscal year.

Insider Activity

In other PROCEPT BioRobotics news, Director Antal Rohit Desai bought 98,699 shares of PROCEPT BioRobotics stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the completion of the transaction, the director directly owned 426,262 shares of the company’s stock, valued at approximately $10,464,732.10. This represents a 30.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin Waters sold 6,721 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the completion of the sale, the executive vice president owned 152,264 shares of the company’s stock, valued at $3,608,656.80. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. Company insiders own 6.60% of the company’s stock.

PROCEPT BioRobotics Company Profile

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.