Granite Investment Partners LLC Purchases Shares of 141,642 PROCEPT BioRobotics Corporation $PRCT

Granite Investment Partners LLC bought a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 141,642 shares of the company’s stock, valued at approximately $8,159,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in PROCEPT BioRobotics in the 1st quarter valued at $40,000. AlphaQuest LLC boosted its holdings in shares of PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock valued at $63,000 after purchasing an additional 1,010 shares in the last quarter. CWM LLC grew its position in PROCEPT BioRobotics by 40.7% in the second quarter. CWM LLC now owns 1,228 shares of the company’s stock valued at $71,000 after acquiring an additional 355 shares during the last quarter. RiverPark Advisors LLC increased its position in PROCEPT BioRobotics by 22.5% during the 2nd quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock worth $101,000 after purchasing an additional 324 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of PROCEPT BioRobotics in the 2nd quarter valued at $194,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $50.00 target price (down previously from $55.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, November 5th. Leerink Partners reiterated an “outperform” rating and issued a $55.00 price objective on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. Finally, Oppenheimer raised shares of PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Tuesday, September 2nd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of “Moderate Buy” and an average price target of $59.78.

PROCEPT BioRobotics Stock Down 4.0%

Shares of PRCT opened at $30.41 on Tuesday. The firm has a market cap of $1.70 billion, a P/E ratio of -19.88 and a beta of 0.99. The stock has a 50 day simple moving average of $33.36 and a two-hundred day simple moving average of $44.87. PROCEPT BioRobotics Corporation has a 1 year low of $27.80 and a 1 year high of $99.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.44 and a quick ratio of 7.20.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.03. PROCEPT BioRobotics had a negative net margin of 28.20% and a negative return on equity of 21.72%. The firm had revenue of $83.33 million for the quarter, compared to analysts’ expectations of $80.78 million. During the same quarter last year, the business earned ($0.40) earnings per share. The business’s revenue was up 42.6% on a year-over-year basis. PROCEPT BioRobotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).