313,884 Shares in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Acquired by Baillie Gifford & Co.

Baillie Gifford & Co. bought a new stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 313,884 shares of the company’s stock, valued at approximately $18,287,000. Baillie Gifford & Co. owned approximately 0.57% of PROCEPT BioRobotics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in PROCEPT BioRobotics by 9.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company’s stock valued at $527,000 after purchasing an additional 723 shares in the last quarter. Sei Investments Co. lifted its position in shares of PROCEPT BioRobotics by 189.2% during the fourth quarter. Sei Investments Co. now owns 95,315 shares of the company’s stock valued at $7,675,000 after buying an additional 62,359 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PROCEPT BioRobotics by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company’s stock valued at $413,907,000 after buying an additional 297,075 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of PROCEPT BioRobotics by 7,021.1% in the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company’s stock valued at $373,000 after buying an additional 6,319 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of PROCEPT BioRobotics by 50.7% in the 1st quarter. Bessemer Group Inc. now owns 10,900 shares of the company’s stock worth $635,000 after buying an additional 3,665 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Down 5.0%

PROCEPT BioRobotics stock opened at $55.72 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. The business’s 50-day simple moving average is $58.97 and its two-hundred day simple moving average is $61.14. The company has a market cap of $3.08 billion, a PE ratio of -32.78 and a beta of 1.07. PROCEPT BioRobotics Corporation has a fifty-two week low of $47.04 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The firm had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. PROCEPT BioRobotics’s revenue for the quarter was up 55.5% on a year-over-year basis. Equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the sale, the director directly owned 14,363 shares in the company, valued at approximately $883,180.87. The trade was a 63.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $6,271,250. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRCT shares. Bank of America decreased their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Truist Financial lowered their price objective on PROCEPT BioRobotics from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Stephens assumed coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an “overweight” rating and a $70.00 target price on the stock. Oppenheimer assumed coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a “market perform” rating for the company. Finally, Morgan Stanley dropped their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.13.

PROCEPT BioRobotics Profile

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).