William Blair Investment Management LLC Buys 54,396 Shares of PROCEPT BioRobotics Corporation $PRCT

William Blair Investment Management LLC boosted its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 383,017 shares of the company’s stock after purchasing an additional 54,396 shares during the quarter. William Blair Investment Management LLC’s holdings in PROCEPT BioRobotics were worth $13,670,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PRCT. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics in the 3rd quarter valued at about $30,000. Vega Investment Solutions boosted its position in shares of PROCEPT BioRobotics by 52.0% during the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after acquiring an additional 265 shares in the last quarter. US Bancorp DE increased its stake in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after acquiring an additional 1,079 shares during the last quarter. AlphaQuest LLC raised its position in PROCEPT BioRobotics by 1,262.5% during the second 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. Finally, CWM LLC raised its position in PROCEPT BioRobotics by 40.7% during the second quarter. CWM LLC now owns 1,228 shares of the company’s stock valued at $71,000 after purchasing an additional 355 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of research analyst reports. UBS Group assumed coverage on PROCEPT BioRobotics in a report on Friday, December 12th. They issued a “buy” rating and a $62.00 target price on the stock. Bank of America lowered PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $20.00 in a research note on Thursday, February 26th. Jefferies Financial Group cut PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Morgan Stanley dropped their target price on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Finally, Wall Street Zen downgraded shares of PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.90.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $25.90 on Tuesday. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.46 billion, a PE ratio of -15.15 and a beta of 1.03. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $66.85. The business has a 50-day simple moving average of $29.83 and a two-hundred day simple moving average of $33.34.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results 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). PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.The firm had revenue of $76.38 million for the quarter, compared to the consensus estimate of $93.70 million. During the same quarter last year, the firm posted ($0.35) earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal 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.