Rhenman & Partners Asset Management AB Grows Stock Holdings in PROCEPT BioRobotics Corporation $PRCT

Rhenman & Partners Asset Management AB raised its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 56.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,000 shares of the company’s stock after buying an additional 221,000 shares during the period. PROCEPT BioRobotics comprises about 1.8% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 18th largest holding. Rhenman & Partners Asset Management AB’s holdings in PROCEPT BioRobotics were worth $19,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PRCT. Alliancebernstein L.P. boosted its position in shares of 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 during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of 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 during the period. Mackenzie Financial Corp boosted 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 during the period. UBS Group AG boosted its position 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 boosted its position in shares of PROCEPT BioRobotics by 38.4% during the third quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company’s stock worth $48,720,000 after buying an additional 378,844 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,363 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $25.96, for a total value of $139,223.48. Following the sale, the executive vice president directly owned 105,354 shares in the company, valued at $2,734,989.84. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 7,373 shares of company stock valued at $196,135 in the last 90 days. 6.60% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Down 7.2%

Shares of NASDAQ PRCT opened at $25.70 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of -14.12 and a beta of 0.85. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $62.17. The business’s fifty day simple moving average is $25.84 and its 200-day simple moving average is $28.36.

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

Analyst Ratings Changes

Several research firms have recently commented on PRCT. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. TD Cowen reduced their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 price objective (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Finally, Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.36.

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.