Lisanti Capital Growth LLC Buys Shares of 35,890 PROCEPT BioRobotics Corporation $PRCT

Key Points

• Lisanti Capital Growth LLC opened a new position in PROCEPT BioRobotics during the fourth quarter, buying 35,890 shares valued at about $1.13 million.
• Institutional ownership in PROCEPT BioRobotics remains high at 89.46%, with several large investors increasing their stakes significantly in recent quarters.
• The company recently reported mixed quarterly results: revenue rose 20.1% year over year to $83.13 million, but EPS came in slightly below expectations at -$0.56.

Lisanti Capital Growth LLC purchased a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 35,890 shares of the company's stock, valued at approximately $1,129,000. Lisanti Capital Growth LLC owned 0.06% of PROCEPT BioRobotics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its holdings 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 valued at $122,052,000 after purchasing an additional 1,262,928 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in PROCEPT BioRobotics by 229.7% during 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 boosted its holdings in PROCEPT BioRobotics by 105.2% in the 3rd quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company's stock valued at $51,909,000 after purchasing an additional 745,778 shares during the last quarter. UBS Group AG boosted its holdings in PROCEPT BioRobotics by 129.3% in the 3rd quarter. UBS Group AG now owns 944,545 shares of the company's stock valued at $33,711,000 after purchasing an additional 532,530 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of PROCEPT BioRobotics by 38.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company's stock valued at $48,720,000 after buying 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

Several analysts have recently commented on PRCT shares. TD Cowen reduced their price target on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Truist Financial lowered their price objective on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Bank of America downgraded PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $38.00 to $20.00 in a research report on Thursday, February 26th. Robert W. Baird began coverage on PROCEPT BioRobotics in a research note on Friday, March 6th. They issued a "neutral" rating and a $30.00 price target on the stock. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has an average rating of "Hold" and a consensus target price of $41.45.

Insider Buying and Selling

In related news, EVP Kevin Waters sold 6,721 shares of the firm'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 completion of the transaction, the executive vice president directly owned 152,264 shares in the company, valued at $3,608,656.80. This trade represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Antal Rohit Desai bought 167,246 shares of the company's stock in a transaction on Thursday, March 5th. The stock was purchased at an average cost of $25.58 per share, with a total value of $4,278,152.68. Following the completion of the transaction, the director owned 167,246 shares in the company, valued at $4,278,152.68. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 426,262 shares of company stock valued at $10,483,091 and have sold 23,229 shares valued at $573,466. 6.60% of the stock is owned by corporate insiders.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $29.00 on Friday. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. 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 company has a 50 day moving average price of $25.40 and a 200 day moving average price of $28.70. The stock has a market capitalization of $1.65 billion, a P/E ratio of -15.93 and a beta of 0.83.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) 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 firm had revenue of $83.13 million during the quarter, compared to analysts' expectations of $80.52 million. During the same period in the previous year, the firm earned ($0.45) EPS. The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. Equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current year.

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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