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

Key Points

• Baillie Gifford & Co. acquired 313,884 shares of PROCEPT BioRobotics Corporation, valued at approximately $18.3 million, representing a 0.57% ownership stake.
• PROCEPT BioRobotics reported a 55.5% increase in revenue year-over-year, totaling $69.16 million for the quarter, while beating EPS expectations by $0.04.
• Several analysts have updated their ratings on PROCEPT BioRobotics, with Bank of America lowering its target price from $104 to $84 but still maintaining a "buy" rating.

Baillie Gifford & Co. acquired a new position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 313,884 shares of the company's stock, valued at approximately $18,287,000. Baillie Gifford & Co. owned 0.57% of PROCEPT BioRobotics at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PRCT. ANTIPODES PARTNERS Ltd bought a new position in shares of PROCEPT BioRobotics during the 1st quarter worth approximately $30,000. Thematics Asset Management acquired a new position in shares of PROCEPT BioRobotics during the fourth quarter worth about $46,000. CWM LLC boosted its position in shares of PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares during the period. Nisa Investment Advisors LLC raised its holdings in PROCEPT BioRobotics by 32.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after acquiring an additional 270 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in PROCEPT BioRobotics during the fourth quarter worth about $207,000. Institutional investors own 89.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Oppenheimer began coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating for the company. Truist Financial cut their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Bank of America dropped their price objective on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.13.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the sale, the director owned 14,363 shares in the company, valued at $883,180.87. The trade was a 63.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 100,000 shares of company stock worth $6,271,250. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Stock Down 4.0%

Shares of PRCT traded down $2.15 on Wednesday, hitting $51.69. 608,294 shares of the stock traded hands, compared to its average volume of 961,029. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. PROCEPT BioRobotics Corporation has a one year low of $47.04 and a one year high of $103.81. The company has a market capitalization of $2.86 billion, a PE ratio of -30.41 and a beta of 1.07. The business has a 50 day simple moving average of $58.75 and a 200 day simple moving average of $60.51.

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).