DNB Asset Management AS Has $3.13 Million Stock Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• DNB Asset Management AS increased its stake in PROCEPT BioRobotics by 213.9% in the fourth quarter, ending with 99,567 shares valued at about $3.13 million.
• Wall Street sentiment remains mixed: analysts currently have a Hold consensus rating on PRCT, with an average price target of $41.45.
• The company reported Q1 revenue growth of 20.1% to $83.13 million but posted a smaller-than-expected loss, while insiders showed mixed activity with one executive selling shares and a director making a large purchase.

DNB Asset Management AS lifted its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 213.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,567 shares of the company's stock after buying an additional 67,848 shares during the quarter. DNB Asset Management AS owned about 0.18% of PROCEPT BioRobotics worth $3,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of PROCEPT BioRobotics by 58.6% in the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company's stock worth $122,052,000 after purchasing an additional 1,262,928 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of PROCEPT BioRobotics by 229.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,128,288 shares of the company's stock worth $40,269,000 after purchasing an additional 786,094 shares during the period. Mackenzie Financial Corp increased its position in shares of PROCEPT BioRobotics by 105.2% in the third quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company's stock worth $51,909,000 after purchasing an additional 745,778 shares during the period. UBS Group AG increased its position in shares of PROCEPT BioRobotics by 129.3% in the third quarter. UBS Group AG now owns 944,545 shares of the company's stock worth $33,711,000 after purchasing an additional 532,530 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of PROCEPT BioRobotics by 38.4% in the third quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company's stock worth $48,720,000 after purchasing an additional 378,844 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRCT. Wall Street Zen upgraded PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 25th. Oppenheimer reissued a "market perform" rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Jefferies Financial Group downgraded PROCEPT BioRobotics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Robert W. Baird initiated coverage on PROCEPT BioRobotics in a research note on Friday, March 6th. They set a "neutral" rating and a $30.00 target price for the company. Finally, Truist Financial lowered their target price on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.45.

PROCEPT BioRobotics Stock Down 0.4%

Shares of NASDAQ PRCT opened at $25.91 on Wednesday. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -14.24 and a beta of 0.83. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $66.85. The stock has a 50-day moving average price of $25.22 and a two-hundred day moving average price of $28.78.

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

Insider Transactions at PROCEPT BioRobotics

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

About PROCEPT BioRobotics

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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