Granite Investment Partners LLC Reduces Holdings in PROCEPT BioRobotics Corporation $PRCT

Granite Investment Partners LLC lowered its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 47.1% in the third quarter, HoldingsChannel.com reports. The fund owned 74,858 shares of the company’s stock after selling 66,784 shares during the quarter. Granite Investment Partners LLC’s holdings in PROCEPT BioRobotics were worth $2,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Chicago Capital LLC increased its stake in shares of PROCEPT BioRobotics by 175.7% during the 3rd quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after purchasing an additional 999,873 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in PROCEPT BioRobotics by 113.5% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock valued at $92,065,000 after buying an additional 849,792 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in PROCEPT BioRobotics in the 2nd quarter valued at approximately $40,819,000. Champlain Investment Partners LLC grew its holdings in PROCEPT BioRobotics by 58.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,070,646 shares of the company’s stock valued at $61,669,000 after buying an additional 394,450 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in PROCEPT BioRobotics by 94.7% during the second quarter. Frontier Capital Management Co. LLC now owns 418,658 shares of the company’s stock worth $24,115,000 after buying an additional 203,602 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PRCT shares. Bank of America restated a “neutral” rating and issued a $38.00 price objective (down from $55.00) on shares of PROCEPT BioRobotics in a research report on Monday, December 8th. Morgan Stanley reduced their target price on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $50.00 price target (down from $55.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, November 5th. UBS Group initiated coverage on shares of PROCEPT BioRobotics in a report on Friday, December 12th. They set a “buy” rating and a $62.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on shares of PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Moderate Buy” and an average price target of $53.40.

PROCEPT BioRobotics Stock Up 0.3%

Shares of NASDAQ PRCT opened at $27.36 on Tuesday. The stock has a market capitalization of $1.53 billion, a PE ratio of -17.88 and a beta of 0.99. The company has a quick ratio of 7.20, a current ratio of 8.44 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $30.65 and a 200-day moving average of $33.83. PROCEPT BioRobotics Corporation has a 52-week low of $26.23 and a 52-week high of $70.80.

PROCEPT BioRobotics 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.