Baillie Gifford & Co. Purchases 157,147 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Baillie Gifford increased its stake in PROCEPT BioRobotics by 18.3% in Q4, acquiring an additional 157,147 shares to hold 1,015,978 shares (about 1.82% of the company) valued at roughly $31.96 million.
• A company insider, Director Antal Rohit Desai, bought 98,699 shares at ~$24.55, raising his holdings to 426,262 shares; over the last three months insiders net acquired 426,262 shares and sold 23,229 shares, and insiders now own 17.40% of the stock.
• PROCEPT missed quarterly expectations, reporting EPS of -$0.53 (vs. -$0.32 est.) and revenue of $76.4M (vs. $93.7M est.), prompting several price-target cuts and leaving a MarketBeat consensus rating of "Hold" with a $40.82 target.

Baillie Gifford & Co. lifted its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,015,978 shares of the company's stock after acquiring an additional 157,147 shares during the quarter. Baillie Gifford & Co. owned approximately 1.82% of PROCEPT BioRobotics worth $31,963,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth about $30,000. US Bancorp DE boosted its holdings in shares of PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $60,000 after buying an additional 1,079 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of PROCEPT BioRobotics by 90.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company's stock worth $98,000 after buying an additional 810 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of PROCEPT BioRobotics by 20.3% in the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock worth $115,000 after buying an additional 337 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of PROCEPT BioRobotics by 24.0% in the 3rd quarter. IFP Advisors Inc now owns 5,024 shares of the company's stock worth $179,000 after buying an additional 974 shares during the last quarter. Institutional investors own 89.46% of the company's stock.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,363 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $25.96, for a total transaction of $139,223.48. Following the sale, the executive vice president directly owned 105,354 shares of the company's stock, valued at $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Antal Rohit Desai acquired 98,699 shares of the company's stock in a transaction on Monday, March 9th. The shares were acquired at an average cost of $24.55 per share, for a total transaction of $2,423,060.45. Following the completion of the acquisition, the director owned 426,262 shares of the company's stock, valued at approximately $10,464,732.10. The trade was a 30.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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

A number of brokerages recently weighed in on PRCT. Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Weiss Ratings reissued a "sell (e+)" rating on shares of PROCEPT BioRobotics in a report on Thursday, January 22nd. TD Cowen cut their price target on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Truist Financial cut their price target on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Finally, Piper Sandler cut their price target on shares of PROCEPT BioRobotics from $50.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, PROCEPT BioRobotics has a consensus rating of "Hold" and a consensus target price of $40.82.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $23.46 on Tuesday. The company has a market cap of $1.32 billion, a PE ratio of -13.72 and a beta of 0.94. PROCEPT BioRobotics Corporation has a 52 week low of $19.35 and a 52 week high of $66.85. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $26.21 and its two-hundred day simple moving average is $30.43.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The business had revenue of $76.38 million for the quarter, compared to analysts' expectations of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. PROCEPT BioRobotics's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share. Research analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

About PROCEPT BioRobotics

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.

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