PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Shares Bought by Evolutionary Tree Capital Management LLC

Key Points

• Evolutionary Tree Capital Management LLC increased its stake in PROCEPT BioRobotics by 20.9% during Q1, now holding 73,867 shares valued at approximately $4.3 million.
• Several hedge funds, including CWM LLC and Nisa Investment Advisors LLC, also adjusted their positions in PROCEPT BioRobotics, indicating increased interest from institutional investors.
• PROCEPT BioRobotics has received mixed analyst ratings, with price targets ranging from $68 to $90, yet the company maintains a consensus rating of "Moderate Buy" with an average target price of $84.13.

Evolutionary Tree Capital Management LLC boosted its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,867 shares of the company's stock after acquiring an additional 12,749 shares during the quarter. PROCEPT BioRobotics accounts for 5.0% of Evolutionary Tree Capital Management LLC's holdings, making the stock its 5th largest holding. Evolutionary Tree Capital Management LLC owned 0.13% of PROCEPT BioRobotics worth $4,303,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of PROCEPT BioRobotics during the first quarter worth about $30,000. Thematics Asset Management bought a new stake in PROCEPT BioRobotics during the 4th quarter worth approximately $46,000. CWM LLC increased its position in 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 acquiring an additional 358 shares during the period. Nisa Investment Advisors LLC increased its position in 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 acquiring an additional 270 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of PROCEPT BioRobotics by 358.9% during the first quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock valued at $193,000 after acquiring an additional 2,591 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT traded down $0.98 during trading on Friday, hitting $38.61. 1,644,639 shares of the stock traded hands, compared to its average volume of 1,011,760. The company has a market capitalization of $2.14 billion, a P/E ratio of -24.90 and a beta of 1.05. The firm has a 50-day simple moving average of $57.37 and a 200-day simple moving average of $59.12. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13. 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 released its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. The business had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 24.45% and a negative net margin of 30.60%. The business's revenue was up 48.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.50) earnings per share. As a group, analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Insider Activity

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 100,000 shares of company stock worth $6,271,250 in the last 90 days. Corporate insiders own 6.60% of the company's stock.

Analyst Ratings Changes

PRCT has been the topic of several analyst reports. Wells Fargo & Company reduced their price objective on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday. Oppenheimer started coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Bank of America dropped their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Truist Financial reduced their price objective on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen cut PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.88.

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).