Kornitzer Capital Management Inc. KS Acquires Shares of 42,735 PROCEPT BioRobotics Corporation $PRCT

Kornitzer Capital Management Inc. KS acquired a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,735 shares of the company’s stock, valued at approximately $2,462,000.

Other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its position in PROCEPT BioRobotics by 43.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company’s stock valued at $82,462,000 after purchasing an additional 429,461 shares during the period. Alliancebernstein L.P. raised its stake in shares of PROCEPT BioRobotics by 22.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company’s stock valued at $124,892,000 after buying an additional 391,215 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PROCEPT BioRobotics by 47.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company’s stock valued at $61,510,000 after buying an additional 341,906 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of PROCEPT BioRobotics in the first quarter worth about $18,287,000. Finally, Millennium Management LLC grew its holdings in PROCEPT BioRobotics by 88.6% during the first quarter. Millennium Management LLC now owns 542,987 shares of the company’s stock worth $31,634,000 after acquiring an additional 255,140 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Up 1.1%

PRCT stock opened at $34.99 on Monday. PROCEPT BioRobotics Corporation has a 52 week low of $32.11 and a 52 week high of $103.81. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $37.21 and a 200-day simple moving average of $48.93. The stock has a market capitalization of $1.95 billion, a P/E ratio of -22.57 and a beta of 0.99.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The company had revenue of $79.18 million for the quarter, compared to analysts’ expectations of $75.67 million. During the same period in the previous year, the firm posted ($0.50) EPS. PROCEPT BioRobotics’s revenue was up 48.3% compared to the same quarter last year. Equities analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on PRCT shares. Piper Sandler lowered their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Truist Financial lowered their price target on shares of PROCEPT BioRobotics from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Saturday. Wells Fargo & Company decreased their price objective on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

PROCEPT BioRobotics Company 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).