BNP Paribas Financial Markets Purchases 115,996 Shares of PROCEPT BioRobotics Corporation $PRCT

BNP Paribas Financial Markets grew its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 126.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,976 shares of the company’s stock after purchasing an additional 115,996 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.37% of PROCEPT BioRobotics worth $6,543,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at $2,711,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at $778,000. Geode Capital Management LLC lifted its position in shares of PROCEPT BioRobotics by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,328,514 shares of the company’s stock valued at $41,803,000 after acquiring an additional 21,309 shares during the period. William Blair Investment Management LLC lifted its position in shares of PROCEPT BioRobotics by 8.7% during the 4th quarter. William Blair Investment Management LLC now owns 416,243 shares of the company’s stock valued at $13,095,000 after acquiring an additional 33,226 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter valued at $1,129,000. 89.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PRCT shares. Piper Sandler reiterated an “overweight” rating and set a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a research report on Thursday, April 30th. 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 research report on Thursday, February 26th. TD Cowen dropped their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Finally, Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a research report on Friday, March 6th. They set a “neutral” rating and a $30.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.45.

PROCEPT BioRobotics Stock Performance

PRCT opened at $28.78 on Wednesday. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $25.71 and its two-hundred day moving average price is $28.39. PROCEPT BioRobotics Corporation has a 1-year low of $19.35 and a 1-year high of $64.92. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -15.81 and a beta of 0.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings data 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 business had revenue of $83.13 million for the quarter, compared to analyst estimates of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.45) EPS. On average, analysts expect that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

Insider Activity at PROCEPT BioRobotics

In other 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 value of $139,223.48. Following the completion of the sale, the executive vice president owned 105,354 shares in the company, valued at $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,373 shares of company stock valued at $167,655 in the last three months. Corporate insiders own 17.40% 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.