DNB Asset Management AS Buys New Shares in PROCEPT BioRobotics Corporation $PRCT

DNB Asset Management AS bought a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,719 shares of the company’s stock, valued at approximately $1,132,000.

A number of other hedge funds have also recently bought and sold shares of PRCT. Advisory Services Network LLC increased its position in shares of PROCEPT BioRobotics by 1.3% during the 2nd quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock worth $1,158,000 after purchasing an additional 250 shares during the last quarter. Vega Investment Solutions boosted its holdings in shares of PROCEPT BioRobotics by 52.0% in the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after buying an additional 265 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 0.3% in the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock valued at $4,368,000 after buying an additional 307 shares in the last quarter. RiverPark Advisors LLC increased its holdings in 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 buying an additional 324 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock worth $115,000 after buying an additional 337 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Stock Up 1.4%

PROCEPT BioRobotics stock opened at $26.26 on Wednesday. The company’s 50-day moving average price is $29.70 and its two-hundred day moving average price is $33.24. 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 $1.48 billion, a P/E ratio of -15.36 and a beta of 1.02. PROCEPT BioRobotics Corporation has a twelve month low of $19.35 and a twelve month high of $66.85.

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

Analyst Ratings Changes

A number of analysts have commented on PRCT shares. Jefferies Financial Group cut shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wells Fargo & Company dropped their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Truist Financial reduced their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer restated a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Finally, Morgan Stanley reduced their target price 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. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics has an average rating of “Hold” and a consensus target price of $41.90.

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.