MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $38.56 Million Stake 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. grew its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 1.20% of PROCEPT BioRobotics worth $38,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in PRCT. T. Rowe Price Investment Management Inc. increased its holdings in shares of PROCEPT BioRobotics by 43.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock valued at $82,462,000 after acquiring an additional 429,461 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of PROCEPT BioRobotics by 22.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company's stock valued at $124,892,000 after acquiring an additional 391,215 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PROCEPT BioRobotics by 47.9% during the 1st 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 last quarter. Baillie Gifford & Co. acquired a new position in shares of PROCEPT BioRobotics during the 1st quarter valued at about $18,287,000. Finally, Eventide Asset Management LLC increased its holdings in shares of PROCEPT BioRobotics by 181.9% during the 1st quarter. Eventide Asset Management LLC now owns 351,962 shares of the company's stock valued at $20,505,000 after acquiring an additional 227,088 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Trading Up 6.1%

Shares of PRCT opened at $40.68 on Friday. The stock's 50-day moving average price is $48.74 and its 200 day moving average price is $54.62. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -26.25 and a beta of 1.03. PROCEPT BioRobotics Corporation has a 12-month low of $37.12 and a 12-month high of $103.81.

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

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the sale, the director owned 14,363 shares in the company, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRCT. Stephens began coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective on the stock. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Piper Sandler cut their price objective on 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 cut their price objective on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Oppenheimer raised 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. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $73.22.

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).

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