Fiera Capital Corp Boosts Holdings in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Fiera Capital Corp increased its stake in PROCEPT BioRobotics by 29.6% in the fourth quarter, adding 63,192 shares to bring its total holdings to 276,494 shares valued at about $8.7 million.
• Several other institutional investors also adjusted positions, and hedge funds and institutions now own 89.46% of the company, highlighting strong institutional interest in the stock.
• Analyst sentiment has turned more cautious: Bank of America and Jefferies cut ratings, and the stock now has a consensus “Hold” rating with an average price target of $41.45.

Fiera Capital Corp grew its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 29.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,494 shares of the company's stock after purchasing an additional 63,192 shares during the period. Fiera Capital Corp owned approximately 0.49% of PROCEPT BioRobotics worth $8,699,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. DNB Asset Management AS purchased a new stake in shares of PROCEPT BioRobotics during the third quarter valued at approximately $1,132,000. SG Americas Securities LLC raised its stake in shares of PROCEPT BioRobotics by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 84,294 shares of the company's stock valued at $2,652,000 after purchasing an additional 49,457 shares during the period. Baillie Gifford & Co. raised its stake in shares of PROCEPT BioRobotics by 18.3% during the fourth quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company's stock valued at $31,963,000 after purchasing an additional 157,147 shares during the period. Prosight Management LP acquired a new stake in shares of PROCEPT BioRobotics during the third quarter worth approximately $2,748,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of PROCEPT BioRobotics during the fourth quarter worth approximately $1,864,000. Hedge funds and other institutional investors own 89.46% of the company's stock.

Analysts Set New Price Targets

PRCT has been the subject of a number of recent analyst reports. Bank of America downgraded shares of PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $38.00 to $20.00 in a research report on Thursday, February 26th. TD Cowen decreased their price objective on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Truist Financial decreased their price objective on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a report on Friday, February 27th. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Wall Street Zen raised shares of PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $41.45.

PROCEPT BioRobotics Stock Performance

Shares of PRCT opened at $28.35 on Tuesday. PROCEPT BioRobotics Corporation has a 1 year low of $19.35 and a 1 year high of $64.92. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -15.58 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The firm has a fifty day moving average of $25.66 and a 200-day moving average of $28.38.

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

Insider Buying and Selling

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,363 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the sale, the executive vice president directly owned 105,354 shares in the company, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 6,373 shares of company stock valued at $167,655 in the last quarter. 17.40% of the stock is currently owned by insiders.

PROCEPT BioRobotics Company Profile

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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