Lisanti Capital Growth LLC Takes Position in PROCEPT BioRobotics Corporation $PRCT

Lisanti Capital Growth LLC bought a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) in the fourth quarter, HoldingsChannel.com reports. The firm bought 35,890 shares of the company’s stock, valued at approximately $1,129,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alliancebernstein L.P. increased its holdings in PROCEPT BioRobotics by 58.6% during the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock worth $122,052,000 after purchasing an additional 1,262,928 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of PROCEPT BioRobotics by 229.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company’s stock valued at $40,269,000 after buying an additional 786,094 shares during the period. Mackenzie Financial Corp grew its position in shares of 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. UBS Group AG increased its stake in shares of 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 buying an additional 532,530 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in PROCEPT BioRobotics by 38.4% in the third quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company’s stock valued at $48,720,000 after acquiring an additional 378,844 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRCT shares. Truist Financial decreased their price target on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Robert W. Baird began coverage on shares of PROCEPT BioRobotics in a report on Friday, March 6th. They issued a “neutral” rating and a $30.00 price objective on the stock. Bank of America downgraded shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Leerink Partners dropped their target price on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Hold” and a consensus target price of $41.45.

Insider Activity

In other PROCEPT BioRobotics news, Director Antal Rohit Desai acquired 167,246 shares of the stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $25.58 per share, with a total value of $4,278,152.68. Following the transaction, the director owned 167,246 shares of the company’s stock, valued at approximately $4,278,152.68. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction on 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 transaction, the executive vice president owned 152,264 shares in the company, valued at approximately $3,608,656.80. This represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Corporate insiders own 6.60% of the company’s stock.

PROCEPT BioRobotics Stock Up 0.2%

PROCEPT BioRobotics stock opened at $29.00 on Friday. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. 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 company has a market capitalization of $1.65 billion, a P/E ratio of -15.93 and a beta of 0.83. The stock has a 50-day simple moving average of $25.40 and a 200-day simple moving average of $28.70.

PROCEPT BioRobotics (NASDAQ:PRCT) last released 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). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The firm had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $80.52 million. During the same quarter in the prior year, the business earned ($0.45) EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 earnings per share 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.