Chicago Capital LLC Boosts Stake in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Chicago Capital LLC increased its stake in PROCEPT BioRobotics by 34.7% during Q2, accumulating 568,972 shares valued at approximately $32.77 million.
• PROCEPT BioRobotics reported a 48.3% revenue increase year-over-year in its latest earnings report, along with a smaller-than-expected loss per share of ($0.35).
• Wall Street analysts remain optimistic, with a consensus rating of "Moderate Buy" and a target price around $70.00, although some analysts have lowered their price targets significantly.

Chicago Capital LLC boosted its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 34.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 568,972 shares of the company's stock after purchasing an additional 146,599 shares during the quarter. Chicago Capital LLC owned approximately 1.03% of PROCEPT BioRobotics worth $32,773,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its position in PROCEPT BioRobotics by 35.7% during the second quarter. Avior Wealth Management LLC now owns 6,673 shares of the company's stock worth $384,000 after purchasing an additional 1,755 shares in the last quarter. Diversified Trust Co boosted its position in PROCEPT BioRobotics by 66.2% during the second quarter. Diversified Trust Co now owns 11,947 shares of the company's stock worth $688,000 after purchasing an additional 4,760 shares in the last quarter. Mirador Capital Partners LP purchased a new stake in PROCEPT BioRobotics during the second quarter worth $431,000. Harbor Capital Advisors Inc. purchased a new stake in PROCEPT BioRobotics during the second quarter worth $2,413,000. Finally, Militia Capital Partners LP purchased a new stake in PROCEPT BioRobotics during the first quarter worth $816,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Trading Down 0.5%

Shares of NASDAQ PRCT opened at $36.49 on Tuesday. The stock's 50 day moving average price is $42.35 and its two-hundred day moving average price is $51.90. PROCEPT BioRobotics Corporation has a 52-week low of $35.53 and a 52-week high of $103.81. The stock has a market capitalization of $2.03 billion, a P/E ratio of -23.54 and a beta of 1.03. 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 (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. The firm had revenue of $79.18 million for the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.PROCEPT BioRobotics's revenue for the quarter was up 48.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. On average, analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler cut their price target on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company dropped their target price on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a research note on Tuesday, September 2nd. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

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).

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