Candriam S.C.A. Takes Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Candriam S.C.A. acquired a new stake in PROCEPT BioRobotics Corporation, purchasing 30,824 shares valued at approximately $1.8 million, representing about 0.06% of the company.
• Several institutional investors have increased their holdings, with Nisa Investment Advisors LLC expanding their position by 32.5% in the first quarter.
• Analysts have given mixed ratings for PROCEPT BioRobotics, with seven analysts rating it as a Buy and a consensus target price of $74.88, despite recent downward adjustments to target prices by firms like Piper Sandler and Wells Fargo.

Candriam S.C.A. acquired a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,824 shares of the company's stock, valued at approximately $1,796,000. Candriam S.C.A. owned approximately 0.06% of PROCEPT BioRobotics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Osterweis Capital Management Inc. increased its stake in PROCEPT BioRobotics by 98.0% during the 1st quarter. Osterweis Capital Management Inc. now owns 173,735 shares of the company's stock worth $10,122,000 after buying an additional 85,990 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of PROCEPT BioRobotics by 43.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock worth $82,462,000 after acquiring an additional 429,461 shares in the last quarter. Capital Fund Management S.A. increased its position in shares of PROCEPT BioRobotics by 105.1% during the first quarter. Capital Fund Management S.A. now owns 27,371 shares of the company's stock worth $1,595,000 after acquiring an additional 14,023 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PROCEPT BioRobotics in the first quarter valued at $40,000. Finally, Hsbc Holdings PLC raised its stake in shares of PROCEPT BioRobotics by 14.2% in the first quarter. Hsbc Holdings PLC now owns 163,044 shares of the company's stock valued at $9,499,000 after acquiring an additional 20,234 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT traded down $0.45 on Thursday, reaching $40.35. The stock had a trading volume of 438,221 shares, compared to its average volume of 1,015,082. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. The stock has a market cap of $2.25 billion, a P/E ratio of -26.03 and a beta of 1.05. The business's 50-day moving average price is $51.42 and its 200 day moving average price is $56.06. PROCEPT BioRobotics Corporation has a 12-month low of $37.12 and a 12-month high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The company's quarterly revenue was up 48.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) EPS. As a group, equities analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRCT has been the topic of several recent research reports. Wells Fargo & Company cut their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating for the company. Stephens began coverage on shares of PROCEPT BioRobotics in a report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price on the stock. Morgan Stanley decreased their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler reduced their price objective on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.88.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the sale, the director directly owned 14,363 shares of the company's stock, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is owned by corporate insiders.

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).