41,896 Shares in PROCEPT BioRobotics Corporation $PRCT Bought by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. acquired a new stake in PROCEPT BioRobotics Corporation, purchasing 41,896 shares valued at approximately $2,413,000 during the 2nd quarter.
• PROCEPT BioRobotics reported a quarterly revenue of $79.18 million, exceeding analyst expectations and showing a 48.3% year-over-year growth.
• The company currently has an average rating of "Moderate Buy" from analysts, with a consensus target price of $70.00 per share.

Harbor Capital Advisors Inc. acquired a new position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 41,896 shares of the company's stock, valued at approximately $2,413,000. Harbor Capital Advisors Inc. owned 0.08% of PROCEPT BioRobotics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in PROCEPT BioRobotics by 240.2% during the fourth quarter. Millennium Management LLC now owns 287,847 shares of the company's stock valued at $23,177,000 after purchasing an additional 203,241 shares in the last quarter. ProShare Advisors LLC boosted its holdings in PROCEPT BioRobotics by 54.0% during the fourth quarter. ProShare Advisors LLC now owns 12,722 shares of the company's stock valued at $1,024,000 after purchasing an additional 4,459 shares in the last quarter. Two Sigma Investments LP boosted its holdings in PROCEPT BioRobotics by 91.0% during the fourth quarter. Two Sigma Investments LP now owns 353,716 shares of the company's stock valued at $28,481,000 after purchasing an additional 168,505 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of PROCEPT BioRobotics by 237.1% in the 4th quarter. Two Sigma Advisers LP now owns 90,000 shares of the company's stock worth $7,247,000 after acquiring an additional 63,300 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of PROCEPT BioRobotics by 60.4% in the 4th quarter. Voloridge Investment Management LLC now owns 454,374 shares of the company's stock worth $36,586,000 after acquiring an additional 171,029 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PRCT. Piper Sandler reduced their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Stephens began coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price on the stock. Wells Fargo & Company reduced their target price on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Morgan Stanley reduced their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

PROCEPT BioRobotics Trading Down 1.7%

Shares of PRCT traded down $0.64 during trading hours on Friday, reaching $37.39. The stock had a trading volume of 1,325,984 shares, compared to its average volume of 960,584. 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 Corporation has a 52 week low of $36.75 and a 52 week high of $103.81. The firm has a 50-day moving average of $44.79 and a 200 day moving average of $52.81. The company has a market cap of $2.08 billion, a P/E ratio of -24.12 and a beta of 1.03.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the prior year, the company earned ($0.50) EPS. The firm's quarterly revenue was up 48.3% on a year-over-year basis. On average, sell-side analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

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).