Deutsche Bank AG Trims Stock Holdings in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Deutsche Bank AG has reduced its stock position in PROCEPT BioRobotics by 36.0%, now holding 92,886 shares valued at approximately $5.4 million.
• Various institutional investors, like Westfield Capital Management and Evolutionary Tree Capital Management, have increased their stakes in the company, reflecting positive interest in PROCEPT BioRobotics.
• Analysts have lowered target prices for PROCEPT shares, with upgrades indicating a mix of hold and buy ratings, and an average price target of $74.88.

Deutsche Bank AG trimmed its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 36.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,886 shares of the company's stock after selling 52,356 shares during the quarter. Deutsche Bank AG owned 0.17% of PROCEPT BioRobotics worth $5,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PRCT. ANTIPODES PARTNERS Ltd purchased a new position in shares of PROCEPT BioRobotics in the 1st quarter valued at about $30,000. Thematics Asset Management purchased a new position in shares of PROCEPT BioRobotics in the 4th quarter valued at about $46,000. CWM LLC boosted its stake in shares of PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after buying an additional 358 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PROCEPT BioRobotics by 32.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after buying an additional 270 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of PROCEPT BioRobotics by 358.9% in the 1st quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock valued at $193,000 after buying an additional 2,591 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 0.1%

PRCT stock traded down $0.03 during trading on Thursday, hitting $39.35. 617,242 shares of the company's stock were exchanged, compared to its average volume of 1,607,889. The business has a 50-day moving average price of $52.98 and a two-hundred day moving average price of $56.91. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -25.39 and a beta of 1.05. PROCEPT BioRobotics Corporation has a 52-week low of $37.12 and a 52-week high of $103.81. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm 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 23.73% and a negative net margin of 30.60%.The firm's revenue was up 48.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.50) earnings per share. As a group, equities research analysts expect 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 that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the sale, the director owned 14,363 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 100,000 shares of company stock valued at $6,271,250 in the last three months. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PRCT has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective 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. Piper Sandler decreased their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Stephens initiated coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price objective for the company. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Oppenheimer began coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They set a "market perform" rating for the company. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Company 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).