Adage Capital Partners GP L.L.C. Invests $2.91 Million in PROCEPT BioRobotics Corporation $PRCT

Adage Capital Partners GP L.L.C. bought a new stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 50,000 shares of the company's stock, valued at approximately $2,913,000. Adage Capital Partners GP L.L.C. owned 0.09% of PROCEPT BioRobotics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRCT. T. Rowe Price Investment Management Inc. boosted its stake in shares of PROCEPT BioRobotics by 43.6% during 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. Price T Rowe Associates Inc. MD boosted its holdings in PROCEPT BioRobotics by 47.9% in 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 purchasing an additional 341,906 shares in the last quarter. Baillie Gifford & Co. acquired a new position in PROCEPT BioRobotics during the first quarter worth $18,287,000. Westfield Capital Management Co. LP raised its holdings in PROCEPT BioRobotics by 43.2% during the first quarter. Westfield Capital Management Co. LP now owns 748,557 shares of the company's stock valued at $43,611,000 after buying an additional 225,894 shares in the last quarter. Finally, Thematics Asset Management raised its holdings in PROCEPT BioRobotics by 39,180.6% during the first quarter. Thematics Asset Management now owns 226,256 shares of the company's stock valued at $13,182,000 after buying an additional 225,680 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded down $1.50 on Friday, reaching $37.14. 1,087,029 shares of the stock were exchanged, compared to its average volume of 896,811. The stock has a market cap of $2.07 billion, a PE ratio of -23.96 and a beta of 1.03. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a twelve month low of $36.90 and a twelve month high of $103.81. The firm has a fifty day moving average price of $46.77 and a two-hundred day moving average price of $53.70.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The firm had revenue of $79.18 million during the quarter, compared to analyst estimates of $75.67 million. During the same quarter in the previous year, the business earned ($0.50) EPS. The business's revenue was up 48.3% on a year-over-year basis. Sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their target price on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Stephens assumed coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 target price on the stock. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a report on Tuesday, September 2nd. Finally, Piper Sandler cut their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.22.

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).