BNP Paribas Financial Markets Increases Stock Position in PROCEPT BioRobotics Corporation $PRCT

BNP Paribas Financial Markets grew its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 126.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 207,976 shares of the company’s stock after purchasing an additional 115,996 shares during the period. BNP Paribas Financial Markets’ holdings in PROCEPT BioRobotics were worth $6,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $2,711,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at about $778,000. Geode Capital Management LLC raised its holdings in shares of PROCEPT BioRobotics by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,328,514 shares of the company’s stock valued at $41,803,000 after purchasing an additional 21,309 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of PROCEPT BioRobotics by 8.7% in the fourth quarter. William Blair Investment Management LLC now owns 416,243 shares of the company’s stock valued at $13,095,000 after purchasing an additional 33,226 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in PROCEPT BioRobotics during the fourth quarter valued at about $1,129,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

PRCT opened at $28.78 on Wednesday. The firm has a market cap of $1.64 billion, a P/E ratio of -15.81 and a beta of 0.85. The firm has a 50-day moving average of $25.71 and a 200 day moving average of $28.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $64.92.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The company had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative net margin of 31.82% and a negative return on equity of 27.70%. PROCEPT BioRobotics’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) EPS. On average, research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen reduced their price target on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Robert W. Baird assumed coverage on shares of PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 price target for the company. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Wells Fargo & Company reduced their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 price target (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Hold” and an average target price of $41.45.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,363 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $25.96, for a total transaction of $139,223.48. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 6,373 shares of company stock worth $167,655 in the last three months. 17.40% of the stock is owned by company insiders.

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.