PROCEPT BioRobotics Corporation $PRCT Stock Position Lifted by Thematics Asset Management

Thematics Asset Management lifted its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 59.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 630,053 shares of the company’s stock after acquiring an additional 235,344 shares during the quarter. Thematics Asset Management’s holdings in PROCEPT BioRobotics were worth $22,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics during the third quarter worth $30,000. Vega Investment Solutions boosted its holdings in PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after purchasing an additional 265 shares during the period. US Bancorp DE increased its stake in PROCEPT BioRobotics by 175.7% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after purchasing an additional 810 shares during the period. Finally, RiverPark Advisors LLC raised its holdings in shares of PROCEPT BioRobotics by 22.5% during the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock worth $101,000 after purchasing an additional 324 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on PRCT shares. Leerink Partners decreased their price target on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Jefferies Financial Group lowered shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Truist Financial cut their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. TD Cowen decreased their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, UBS Group started coverage on PROCEPT BioRobotics in a report on Friday, December 12th. They set a “buy” rating and a $62.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.82.

PROCEPT BioRobotics Stock Up 3.9%

PROCEPT BioRobotics stock opened at $27.13 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. PROCEPT BioRobotics Corporation has a one year low of $19.35 and a one year high of $66.85. The company has a 50-day simple moving average of $28.71 and a 200-day simple moving average of $32.55. The firm has a market capitalization of $1.53 billion, a P/E ratio of -15.87 and a beta of 1.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The firm had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.35) earnings per share. As a group, equities analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Activity

In other PROCEPT BioRobotics news, Director Antal Rohit Desai acquired 98,699 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $24.55 per share, with a total value of $2,423,060.45. Following the acquisition, the director directly owned 426,262 shares of the company’s stock, valued at $10,464,732.10. This represents a 30.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin Waters sold 6,721 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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. Over the last 90 days, insiders have acquired 426,262 shares of company stock valued at $10,483,091 and have sold 16,856 shares valued at $405,811. Corporate insiders own 6.60% of the company’s stock.

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.