Geode Capital Management LLC Increases Stock Holdings in PROCEPT BioRobotics Corporation $PRCT

Geode Capital Management LLC lifted its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,298,894 shares of the company’s stock after purchasing an additional 115,229 shares during the quarter. Geode Capital Management LLC owned about 2.35% of PROCEPT BioRobotics worth $74,826,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in PROCEPT BioRobotics by 43.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company’s stock valued at $82,462,000 after buying an additional 429,461 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of PROCEPT BioRobotics by 22.3% in the first quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company’s stock valued at $124,892,000 after acquiring an additional 391,215 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of PROCEPT BioRobotics by 47.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company’s stock worth $61,510,000 after acquiring an additional 341,906 shares during the period. Baillie Gifford & Co. purchased a new position in PROCEPT BioRobotics during the first quarter worth about $18,287,000. Finally, Millennium Management LLC raised its holdings in PROCEPT BioRobotics by 88.6% during the first quarter. Millennium Management LLC now owns 542,987 shares of the company’s stock worth $31,634,000 after purchasing an additional 255,140 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRCT has been the topic of a number of analyst reports. Leerink Partners reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of PROCEPT BioRobotics in a report on Wednesday, November 5th. Wall Street Zen downgraded PROCEPT BioRobotics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Oppenheimer upgraded PROCEPT BioRobotics from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Wednesday, October 8th. Finally, TD Cowen lowered their price target on shares of PROCEPT BioRobotics from $85.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.78.

PROCEPT BioRobotics Stock Performance

Shares of PRCT stock opened at $29.86 on Friday. The stock has a fifty day moving average price of $34.18 and a 200 day moving average price of $45.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.20 and a current ratio of 8.44. The stock has a market cap of $1.67 billion, a PE ratio of -19.52 and a beta of 0.98. PROCEPT BioRobotics Corporation has a 1 year low of $27.80 and a 1 year high of $100.89.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.03. The business had revenue of $83.33 million during the quarter, compared to analysts’ expectations of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The business’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) earnings per share. PROCEPT BioRobotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

About PROCEPT BioRobotics

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).