PROCEPT BioRobotics Corporation $PRCT Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB increased its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 105.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 390,000 shares of the company’s stock after purchasing an additional 200,000 shares during the quarter. PROCEPT BioRobotics makes up approximately 1.5% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 27th largest position. Rhenman & Partners Asset Management AB owned about 0.70% of PROCEPT BioRobotics worth $13,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of PROCEPT BioRobotics by 7.3% during the first quarter. AQR Capital Management LLC now owns 18,892 shares of the company’s stock worth $1,101,000 after buying an additional 1,286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PROCEPT BioRobotics by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company’s stock valued at $8,923,000 after acquiring an additional 13,767 shares in the last quarter. Intech Investment Management LLC raised its holdings in PROCEPT BioRobotics by 54.4% in the 1st quarter. Intech Investment Management LLC now owns 28,389 shares of the company’s stock valued at $1,654,000 after acquiring an additional 10,002 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in PROCEPT BioRobotics by 16.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,908 shares of the company’s stock valued at $744,000 after acquiring an additional 1,828 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in PROCEPT BioRobotics by 5.1% in the 2nd quarter. Assetmark Inc. now owns 8,333 shares of the company’s stock worth $480,000 after purchasing an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analysts Set New Price Targets

PRCT has been the topic of several recent research reports. Robert W. Baird started coverage on PROCEPT BioRobotics in a report on Friday. They set a “neutral” rating and a $30.00 target price on the stock. Bank of America downgraded 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. Wall Street Zen lowered PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Jefferies Financial Group cut PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, TD Cowen cut their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.82.

PROCEPT BioRobotics Trading Down 4.5%

PRCT opened at $24.22 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of -14.16 and a beta of 1.02. PROCEPT BioRobotics Corporation has a one year low of $19.35 and a one year high of $66.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. The business’s 50 day moving average price is $29.25 and its 200 day moving average price is $32.97.

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

PROCEPT BioRobotics 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.