Blair William & Co. IL Increases Stock Position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Key Points

• Blair William & Co. IL increased its stock holdings in PROCEPT BioRobotics Corporation by 12.5%, owning approximately 470,286 shares valued at about $27.40 million.
• Institutional investors own 89.46% of PROCEPT BioRobotics, indicating significant confidence in the company's growth potential.
• Wall Street analysts have rated PROCEPT BioRobotics with an average target price of $84.13, with several analysts assigning buy ratings.

Blair William & Co. IL lifted its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,286 shares of the company's stock after purchasing an additional 52,392 shares during the quarter. Blair William & Co. IL owned about 0.85% of PROCEPT BioRobotics worth $27,399,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PROCEPT BioRobotics by 9.0% in 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 in the last quarter. GAMMA Investing LLC boosted its holdings in PROCEPT BioRobotics by 7,021.1% in the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company's stock worth $373,000 after acquiring an additional 6,319 shares during the period. Bessemer Group Inc. grew its stake in shares of PROCEPT BioRobotics by 50.7% during the first quarter. Bessemer Group Inc. now owns 10,900 shares of the company's stock valued at $635,000 after acquiring an additional 3,665 shares in the last quarter. Mariner LLC grew its stake in PROCEPT BioRobotics by 40.6% in the fourth quarter. Mariner LLC now owns 8,406 shares of the company's stock worth $677,000 after purchasing an additional 2,429 shares in the last quarter. Finally, Rhumbline Advisers increased its position in PROCEPT BioRobotics by 5.0% in the first quarter. Rhumbline Advisers now owns 64,373 shares of the company's stock worth $3,750,000 after buying an additional 3,077 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRCT. Wells Fargo & Company cut their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday. Morgan Stanley lowered their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Bank of America decreased their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wall Street Zen cut shares of PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Piper Sandler lowered their price objective on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Trading Down 13.4%

PROCEPT BioRobotics stock traded down $6.10 during mid-day trading on Thursday, hitting $39.59. The company's stock had a trading volume of 4,911,789 shares, compared to its average volume of 1,002,340. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. The stock's fifty day moving average is $57.69 and its two-hundred day moving average is $59.37. PROCEPT BioRobotics Corporation has a 1 year low of $37.12 and a 1 year high of $103.81. The firm has a market capitalization of $2.19 billion, a PE ratio of -23.29 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The firm's revenue for the quarter was up 48.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) earnings per share. On average, analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 14,363 shares of the company's stock, valued at approximately $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 100,000 shares of company stock worth $6,271,250 in the last 90 days. 6.60% of the stock is owned by insiders.

About PROCEPT BioRobotics

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).