Federated Hermes Inc. Has $13.59 Million Stock Holdings in PROCEPT BioRobotics Corporation $PRCT

Federated Hermes Inc. trimmed its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 32.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,810 shares of the company’s stock after selling 184,273 shares during the period. Federated Hermes Inc.’s holdings in PROCEPT BioRobotics were worth $13,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truist Financial Corp purchased a new stake in shares of PROCEPT BioRobotics during the 3rd quarter worth about $256,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in shares of PROCEPT BioRobotics by 36.8% in the 3rd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 26,000 shares of the company’s stock valued at $928,000 after buying an additional 7,000 shares in the last quarter. Robocap Asset Management Ltd increased its holdings in PROCEPT BioRobotics by 32.1% in the third quarter. Robocap Asset Management Ltd now owns 138,840 shares of the company’s stock worth $4,955,000 after buying an additional 33,760 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in PROCEPT BioRobotics by 5.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 41,092 shares of the company’s stock valued at $1,467,000 after acquiring an additional 1,971 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in PROCEPT BioRobotics during the third quarter valued at approximately $6,718,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PRCT shares. UBS Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They issued a “buy” rating and a $62.00 target price for the company. TD Cowen decreased their price objective on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Bank of America reissued a “neutral” rating and set a $38.00 target price (down from $55.00) on shares of PROCEPT BioRobotics in a research report on Monday, December 8th. Truist Financial reduced their price target on PROCEPT BioRobotics from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Morgan Stanley decreased their price target on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.40.

PROCEPT BioRobotics Trading Down 0.5%

Shares of NASDAQ:PRCT opened at $28.96 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44. The stock’s 50-day moving average is $32.30 and its 200-day moving average is $36.76. The company has a market cap of $1.62 billion, a P/E ratio of -18.93 and a beta of 0.99. PROCEPT BioRobotics Corporation has a 52-week low of $27.80 and a 52-week high of $75.29.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. The firm had revenue of $83.33 million during the quarter, compared to the consensus estimate of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The firm’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.40) EPS. Equities research analysts predict that PROCEPT BioRobotics Corporation will post -1.75 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.