Aberdeen Group plc Buys 9,870 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Aberdeen Group plc increased its stake in PROCEPT BioRobotics Corporation by 22.4%, acquiring an additional 9,870 shares during the 2nd quarter for a total of 53,868 shares valued at approximately $3,057,000.
• PROCEPT BioRobotics reported a quarterly revenue of $79.18 million, exceeding analyst estimates of $75.67 million and demonstrating a 48.3% year-over-year increase.
• Analysts have given PROCEPT BioRobotics a consensus rating of "Moderate Buy" with a target price of $67.50, despite recent adjustments from various financial institutions.

Aberdeen Group plc lifted its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,868 shares of the company's stock after purchasing an additional 9,870 shares during the quarter. Aberdeen Group plc owned 0.10% of PROCEPT BioRobotics worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Osterweis Capital Management Inc. grew its holdings in shares of PROCEPT BioRobotics by 98.0% during the 1st quarter. Osterweis Capital Management Inc. now owns 173,735 shares of the company's stock valued at $10,122,000 after purchasing an additional 85,990 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PROCEPT BioRobotics by 9.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock valued at $527,000 after purchasing an additional 723 shares during the last quarter. Millennium Management LLC grew its holdings in shares of PROCEPT BioRobotics by 88.6% during the 1st quarter. Millennium Management LLC now owns 542,987 shares of the company's stock valued at $31,634,000 after purchasing an additional 255,140 shares during the last quarter. Blair William & Co. IL boosted its position in PROCEPT BioRobotics by 5.7% during the 2nd quarter. Blair William & Co. IL now owns 497,205 shares of the company's stock worth $28,639,000 after buying an additional 26,919 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in PROCEPT BioRobotics during the 1st quarter worth approximately $2,913,000. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $33.94 on Friday. The firm has a market capitalization of $1.89 billion, a P/E ratio of -21.90 and a beta of 0.99. The company has a fifty day moving average of $37.83 and a 200-day moving average of $49.76. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a twelve month low of $32.11 and a twelve month high of $103.81.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of PROCEPT BioRobotics from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday. Oppenheimer upgraded shares of PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price target on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, BTIG Research restated a "neutral" rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.50.

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).

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