C WorldWide Group Holding A S Purchases 225,000 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• C WorldWide Group Holding A S increased its stake in PROCEPT BioRobotics by 150% in the fourth quarter, buying an additional 225,000 shares and bringing its total holding to 375,000 shares worth about $11.8 million.
• Institutional ownership remains high, with hedge funds and other investors owning 89.46% of PROCEPT BioRobotics shares. Several other firms also boosted their positions during recent quarters.
• PROCEPT BioRobotics reported mixed quarterly results: revenue rose 20.1% year over year to $83.13 million, but EPS of -$0.56 narrowly missed estimates and the company continues to post losses.

C WorldWide Group Holding A S boosted its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 150.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 375,000 shares of the company's stock after buying an additional 225,000 shares during the period. C WorldWide Group Holding A S owned approximately 0.67% of PROCEPT BioRobotics worth $11,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRCT. US Bancorp DE raised its holdings in PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $60,000 after buying an additional 1,079 shares during the period. Lazard Asset Management LLC raised its holdings in PROCEPT BioRobotics by 90.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company's stock valued at $98,000 after buying an additional 810 shares during the period. Osaic Holdings Inc. raised its holdings in PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock valued at $115,000 after buying an additional 337 shares during the period. IFP Advisors Inc raised its holdings in PROCEPT BioRobotics by 24.0% during the 3rd quarter. IFP Advisors Inc now owns 5,024 shares of the company's stock valued at $179,000 after buying an additional 974 shares during the period. Finally, Inceptionr LLC purchased a new stake in PROCEPT BioRobotics during the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

PRCT has been the topic of several recent research reports. Wall Street Zen upgraded PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Weiss Ratings restated a "sell (e+)" rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Oppenheimer restated a "market perform" rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Truist Financial decreased their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Finally, Robert W. Baird initiated coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They set a "neutral" rating and a $30.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.45.

PROCEPT BioRobotics Stock Performance

PRCT stock opened at $25.40 on Monday. The company has a quick ratio of 5.51, a current ratio of 6.73 and a debt-to-equity ratio of 0.15. The business's fifty day simple moving average is $25.06 and its two-hundred day simple moving average is $29.29. PROCEPT BioRobotics Corporation has a twelve month low of $19.35 and a twelve month high of $66.85. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -13.96 and a beta of 0.83.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The business had revenue of $83.13 million during the quarter, compared to analysts' expectations of $80.52 million. During the same quarter in the previous year, the business earned ($0.45) EPS. The business's revenue for the quarter was up 20.1% on a year-over-year basis. Analysts predict that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $159,287.70. Following the sale, the executive vice president owned 152,264 shares in the company, valued at $3,608,656.80. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Antal Rohit Desai bought 98,699 shares of PROCEPT BioRobotics stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $24.55 per share, for a total transaction of $2,423,060.45. Following the purchase, the director owned 426,262 shares of the company's stock, valued at approximately $10,464,732.10. This trade represents a 30.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. Insiders own 17.40% of the company's stock.

PROCEPT BioRobotics Profile

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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