SBI Okasan Asset Management Co.Ltd. Acquires Shares of 24,200 PROCEPT BioRobotics Corporation $PRCT

SBI Okasan Asset Management Co.Ltd. acquired a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 24,200 shares of the company’s stock, valued at approximately $778,000.

Other institutional investors also recently bought and sold shares of the company. Center for Financial Planning Inc. purchased a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $40,000. US Bancorp DE lifted its position in shares of PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after acquiring an additional 1,079 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of PROCEPT BioRobotics by 90.7% in the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after acquiring an additional 810 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after acquiring an additional 337 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of PROCEPT BioRobotics by 24.0% in the third quarter. IFP Advisors Inc now owns 5,024 shares of the company’s stock valued at $179,000 after acquiring an additional 974 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Antal Rohit Desai acquired 167,246 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average price of $25.58 per share, for a total transaction of $4,278,152.68. Following the completion of the transaction, the director owned 167,246 shares in the company, valued at $4,278,152.68. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alaleh Nouri sold 6,892 shares of PROCEPT BioRobotics stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $163,340.40. Following the transaction, the executive vice president owned 114,264 shares in the company, valued at approximately $2,708,056.80. The trade was a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRCT shares. Wall Street Zen upgraded PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Leerink Partners decreased their target price on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Bank of America downgraded PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $38.00 to $20.00 in a research report on Thursday, February 26th. Truist Financial decreased their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.45.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $26.33 on Friday. PROCEPT BioRobotics Corporation has a one year low of $19.35 and a one year high of $66.85. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -14.47 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The business’s 50 day moving average price is $25.43 and its 200 day moving average price is $28.51.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $80.52 million. During the same quarter in the previous year, the business posted ($0.45) EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, research analysts predict that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.

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.