Robocap Asset Management Ltd Sells 38,998 Shares of PROCEPT BioRobotics Corporation $PRCT

Robocap Asset Management Ltd lessened its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,842 shares of the company’s stock after selling 38,998 shares during the quarter. PROCEPT BioRobotics comprises 2.8% of Robocap Asset Management Ltd’s holdings, making the stock its 16th biggest position. Robocap Asset Management Ltd owned 0.18% of PROCEPT BioRobotics worth $3,141,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PRCT. Alliancebernstein L.P. grew its position 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 last quarter. Westfield Capital Management Co. LP grew its position in PROCEPT BioRobotics by 23.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company’s stock worth $70,315,000 after purchasing an additional 371,798 shares during the last quarter. Chicago Capital LLC grew its position in PROCEPT BioRobotics by 175.7% during the 3rd quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after purchasing an additional 999,873 shares during the last quarter. Mackenzie Financial Corp grew its position in PROCEPT BioRobotics by 105.2% during the 3rd quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock worth $51,909,000 after purchasing an additional 745,778 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in PROCEPT BioRobotics by 34.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,437,897 shares of the company’s stock worth $51,319,000 after purchasing an additional 367,251 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

Insider Activity

In other news, EVP Kevin Waters sold 6,721 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total value of $159,287.70. Following the sale, the executive vice president directly owned 152,264 shares of the company’s stock, valued at $3,608,656.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antal Rohit Desai acquired 98,699 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the completion of the acquisition, the director directly owned 426,262 shares in the company, valued at approximately $10,464,732.10. The trade was a 30.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 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. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PRCT shares. Wall Street Zen raised shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Truist Financial dropped their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Piper Sandler reissued an “overweight” rating and set a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, TD Cowen dropped their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.45.

PROCEPT BioRobotics Stock Up 2.5%

PRCT stock opened at $24.63 on Friday. The firm’s fifty day simple moving average is $25.18 and its 200-day simple moving average is $29.50. The company has a market capitalization of $1.40 billion, a P/E ratio of -13.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The business had revenue of $83.13 million during the quarter, compared to analysts’ expectations of $80.52 million. PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.16%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. As a group, equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.54 earnings per share 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.