SBI Okasan Asset Management Co.Ltd. Takes Position in PROCEPT BioRobotics Corporation $PRCT

SBI Okasan Asset Management Co.Ltd. acquired a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,200 shares of the company’s stock, valued at approximately $778,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its position in PROCEPT BioRobotics by 58.6% during the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock valued at $122,052,000 after purchasing an additional 1,262,928 shares during the period. Westfield Capital Management Co. LP lifted its position in PROCEPT BioRobotics by 23.3% during the third quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company’s stock valued at $70,315,000 after purchasing an additional 371,798 shares during the period. Mackenzie Financial Corp lifted its position in PROCEPT BioRobotics by 105.2% during the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company’s stock valued at $51,909,000 after purchasing an additional 745,778 shares during the period. Champlain Investment Partners LLC lifted its position in PROCEPT BioRobotics by 34.3% during the third quarter. Champlain Investment Partners LLC now owns 1,437,897 shares of the company’s stock valued at $51,319,000 after purchasing an additional 367,251 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in PROCEPT BioRobotics by 38.4% during the third quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company’s stock valued at $48,720,000 after purchasing an additional 378,844 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Down 3.2%

PROCEPT BioRobotics stock opened at $26.33 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -14.47 and a beta of 0.83. PROCEPT BioRobotics Corporation has a 52 week low of $19.35 and a 52 week high of $66.85. The business’s 50-day moving average price is $25.43 and its 200 day moving average price is $28.51. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate 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 company had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. During the same period last year, the business earned ($0.45) earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai acquired 98,699 shares of the company’s stock in a transaction on Monday, March 9th. The shares were bought at an average cost of $24.55 per share, with a total value of $2,423,060.45. Following the completion of the acquisition, the director owned 426,262 shares in the company, valued at approximately $10,464,732.10. This trade represents a 30.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alaleh Nouri sold 5,363 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the completion of the sale, the executive vice president directly owned 105,354 shares in the company, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRCT has been the topic of several analyst reports. Bank of America lowered PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $38.00 to $20.00 in a report on Thursday, February 26th. Wells Fargo & Company dropped their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Wall Street Zen raised PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. 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, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of “Hold” and a consensus target price of $41.45.

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.