338,886 Shares in PROCEPT BioRobotics Corporation $PRCT Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 338,886 shares of the company’s stock, valued at approximately $8,495,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prosight Management LP boosted its position in shares of PROCEPT BioRobotics by 1,692.4% during the 4th quarter. Prosight Management LP now owns 1,380,000 shares of the company’s stock valued at $43,415,000 after purchasing an additional 1,303,009 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of PROCEPT BioRobotics by 58.6% in the 3rd quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company’s stock worth $122,052,000 after purchasing an additional 1,262,928 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of PROCEPT BioRobotics by 59.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,271,408 shares of the company’s stock worth $102,919,000 after purchasing an additional 1,218,815 shares in the last quarter. UBS Group AG raised its holdings in shares of PROCEPT BioRobotics by 129.3% in the 3rd quarter. UBS Group AG now owns 944,545 shares of the company’s stock worth $33,711,000 after purchasing an additional 532,530 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of PROCEPT BioRobotics by 690.0% in the 4th quarter. Millennium Management LLC now owns 383,137 shares of the company’s stock worth $12,053,000 after purchasing an additional 448,077 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PRCT shares. Leerink Partners cut shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $31.00 to $29.00 in a report on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a report on Friday, July 17th. Truist Financial reiterated a “hold” rating and set a $25.00 price objective (down from $30.00) on shares of PROCEPT BioRobotics in a research report on Thursday, July 2nd. Wall Street Zen raised PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $35.00 target price (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.27.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock opened at $17.70 on Thursday. PROCEPT BioRobotics Corporation has a fifty-two week low of $17.63 and a fifty-two week high of $60.57. The firm’s 50 day simple moving average is $23.71 and its 200-day simple moving average is $25.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.73 and a quick ratio of 5.51. The company has a market cap of $1.01 billion, a P/E ratio of -9.73 and a beta of 0.87.

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

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.