Rockefeller Capital Management L.P. Buys 220,115 Shares of PROCEPT BioRobotics Corporation $PRCT

Rockefeller Capital Management L.P. grew its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 2,727.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,186 shares of the company’s stock after buying an additional 220,115 shares during the period. Rockefeller Capital Management L.P. owned 0.40% of PROCEPT BioRobotics worth $7,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRCT. Caitong International Asset Management Co. Ltd boosted its holdings in PROCEPT BioRobotics by 436.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock valued at $29,000 after acquiring an additional 746 shares during the last quarter. Center for Financial Planning Inc. bought a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $40,000. US Bancorp DE raised its holdings in PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of PROCEPT BioRobotics in the 4th quarter worth approximately $68,000. Finally, Lazard Asset Management LLC lifted its position in shares of PROCEPT BioRobotics by 90.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock worth $98,000 after purchasing an additional 810 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRCT has been the subject of several recent analyst reports. Leerink Partners cut shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $31.00 to $29.00 in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Piper Sandler reaffirmed 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. Jefferies Financial Group downgraded PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of “Hold” and a consensus target price of $40.42.

PROCEPT BioRobotics Stock Up 3.1%

PROCEPT BioRobotics stock opened at $21.49 on Friday. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $62.17. The firm’s fifty day moving average is $25.40 and its 200 day moving average is $27.66. The company has a market capitalization of $1.22 billion, a PE ratio of -11.81 and a beta of 0.85.

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