DNB Asset Management AS Purchases 67,848 Shares of PROCEPT BioRobotics Corporation $PRCT

DNB Asset Management AS lifted its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 213.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 99,567 shares of the company’s stock after buying an additional 67,848 shares during the quarter. DNB Asset Management AS’s holdings in PROCEPT BioRobotics were worth $3,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRCT. US Bancorp DE grew its holdings in shares of PROCEPT BioRobotics by 175.7% during the third 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. Lazard Asset Management LLC boosted its holdings in PROCEPT BioRobotics by 90.7% in the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after acquiring an additional 810 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after acquiring an additional 337 shares during the last quarter. IFP Advisors Inc boosted its holdings in PROCEPT BioRobotics by 24.0% in the third quarter. IFP Advisors Inc now owns 5,024 shares of the company’s stock valued at $179,000 after acquiring an additional 974 shares during the last quarter. Finally, Inceptionr LLC bought a new stake in PROCEPT BioRobotics in the third quarter valued at approximately $212,000. 89.46% of the stock is currently owned by institutional investors.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $25.91 on Wednesday. PROCEPT BioRobotics Corporation has a 52-week low of $19.35 and a 52-week high of $66.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The business’s 50 day moving average price is $25.22 and its two-hundred day moving average price is $28.78. The firm has a market cap of $1.47 billion, a PE ratio of -14.24 and a beta of 0.83.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (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 business had revenue of $83.13 million during the quarter, compared to analyst estimates of $80.52 million. During the same period last year, the firm posted ($0.45) earnings per share. PROCEPT BioRobotics’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 6,892 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $163,340.40. Following the transaction, the executive vice president directly owned 114,264 shares of the company’s stock, valued at approximately $2,708,056.80. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antal Rohit Desai purchased 167,246 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was acquired at an average cost of $25.58 per share, for a total transaction of $4,278,152.68. Following the completion of the purchase, the director owned 167,246 shares of the company’s stock, valued at approximately $4,278,152.68. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. Insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PRCT. Piper Sandler reiterated 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. Leerink Partners reduced their target price on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Jefferies Financial Group cut PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company reduced their target price on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Robert W. Baird began coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They issued a “neutral” rating and a $30.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.45.

PROCEPT BioRobotics Company 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.