MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $38.56 Million Stock Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PROCEPT BioRobotics Corporation by 4.9% in Q1, holding approximately 1.20% of the company's stock, valued at $38.56 million.
• Several other institutional investors also enhanced their holdings in PROCEPT BioRobotics, with T. Rowe Price increasing its position by 43.6% during the same period.
• PROCEPT BioRobotics reported a revenue of $79.18 million for the quarter, exceeding analyst expectations and showcasing a 48.3% year-over-year revenue growth.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 661,819 shares of the company's stock after buying an additional 30,685 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.20% of PROCEPT BioRobotics worth $38,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PRCT. Alliancebernstein L.P. lifted its position in PROCEPT BioRobotics by 22.3% in the first quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company's stock valued at $124,892,000 after buying an additional 391,215 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in PROCEPT BioRobotics by 43.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock valued at $82,462,000 after purchasing an additional 429,461 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of PROCEPT BioRobotics by 47.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company's stock valued at $61,510,000 after acquiring an additional 341,906 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of PROCEPT BioRobotics by 43.2% in the first quarter. Westfield Capital Management Co. LP now owns 748,557 shares of the company's stock valued at $43,611,000 after acquiring an additional 225,894 shares during the period. Finally, Champlain Investment Partners LLC lifted its holdings in shares of PROCEPT BioRobotics by 48.0% during the first quarter. Champlain Investment Partners LLC now owns 676,196 shares of the company's stock worth $39,395,000 after purchasing an additional 219,266 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

Wall Street Analyst Weigh In

PRCT has been the subject of several research analyst reports. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research report on Tuesday, September 2nd. Wells Fargo & Company reduced their price objective on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Stephens began coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target for the company. Finally, Piper Sandler lowered their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $73.22.

PROCEPT BioRobotics Stock Down 3.9%

NASDAQ:PRCT traded down $1.49 during trading hours on Friday, hitting $37.15. 395,650 shares of the company's stock traded hands, compared to its average volume of 1,013,996. The firm has a market cap of $2.07 billion, a P/E ratio of -23.96 and a beta of 1.03. PROCEPT BioRobotics Corporation has a twelve month low of $37.03 and a twelve month high of $103.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. The stock's fifty day moving average price is $47.20 and its two-hundred day moving average price is $53.98.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. The company 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 23.73% 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 period in the prior year, the firm posted ($0.50) EPS. On average, research analysts expect 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).