Mirador Capital Partners LP Takes $431,000 Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Mirador Capital Partners LP acquired 7,480 shares in PROCEPT BioRobotics Corporation, valued at approximately $431,000, during the second quarter.
• PROCEPT BioRobotics reported a quarterly revenue of $79.18 million, exceeding analyst estimates and showing a 48.3% year-over-year increase.
• The company has 89.46% of its stock currently owned by hedge funds and institutional investors, indicating strong interest from large investment entities.

Mirador Capital Partners LP purchased a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,480 shares of the company's stock, valued at approximately $431,000.

A number of other hedge funds have also modified their holdings of the business. ANTIPODES PARTNERS Ltd acquired a new position in PROCEPT BioRobotics in the 1st quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PROCEPT BioRobotics in the 1st quarter valued at $40,000. CWM LLC lifted its holdings in PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after purchasing an additional 358 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after purchasing an additional 270 shares in the last quarter. Finally, IFP Advisors Inc raised its position 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 worth $193,000 after acquiring an additional 2,591 shares during the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PRCT shares. 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. Piper Sandler cut their target price on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Morgan Stanley lowered their price objective on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, BTIG Research restated a "neutral" rating on shares of PROCEPT BioRobotics in a report on Tuesday, September 16th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and a consensus target price of $70.00.

PROCEPT BioRobotics Price Performance

Shares of PROCEPT BioRobotics stock traded down $0.64 on Friday, hitting $37.39. The company's stock had a trading volume of 1,325,984 shares, compared to its average volume of 960,584. PROCEPT BioRobotics Corporation has a 1 year low of $36.75 and a 1 year high of $103.81. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -24.12 and a beta of 1.03. The firm has a fifty day moving average price of $44.79 and a 200-day moving average price of $52.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21.

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

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).