Mitsubishi UFJ Asset Management Co. Ltd. Has $5.38 Million Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Mitsubishi UFJ Asset Management increased its stake in PROCEPT BioRobotics by 69.8% in the fourth quarter, ending with 174,739 shares worth about $5.38 million.
• Several other institutional investors also raised their positions, and hedge funds and other institutions own 89.46% of the company’s stock.
• Analysts remain cautious overall: the stock has a consensus rating of Hold with a $41.45 price target, while the company recently missed EPS estimates by a penny despite posting 20.1% revenue growth year over year.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 69.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,739 shares of the company's stock after purchasing an additional 71,832 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.31% of PROCEPT BioRobotics worth $5,375,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $60,000 after acquiring an additional 1,079 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in PROCEPT BioRobotics by 90.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,703 shares of the company's stock worth $98,000 after acquiring an additional 810 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock worth $115,000 after acquiring an additional 337 shares during the last quarter. IFP Advisors Inc boosted its holdings in PROCEPT BioRobotics by 24.0% during the 3rd quarter. IFP Advisors Inc now owns 5,024 shares of the company's stock worth $179,000 after acquiring an additional 974 shares during the last quarter. Finally, Inceptionr LLC purchased a new position in PROCEPT BioRobotics during the 3rd quarter worth $212,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PROCEPT BioRobotics

In related news, EVP Kevin Waters sold 6,721 shares of the business's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $159,287.70. Following the sale, the executive vice president directly owned 152,264 shares in the company, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alaleh Nouri sold 5,363 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $25.96, for a total value of $139,223.48. Following the completion of the sale, the executive vice president owned 105,354 shares in the company, valued at $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. 17.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Leerink Partners cut their price objective on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 26th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a report on Friday, March 6th. They issued a "neutral" rating and a $30.00 price target on the stock. Finally, TD Cowen cut their price target on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Eight investment 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. According to data from MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of "Hold" and a consensus price target of $41.45.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT opened at $26.45 on Tuesday. The company's 50-day moving average is $25.06 and its 200 day moving average is $29.17. 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 market capitalization of $1.51 billion, a P/E ratio of -14.53 and a beta of 0.83. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.01). The company had revenue of $83.13 million during the quarter, compared to analysts' expectations of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.PROCEPT BioRobotics's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) earnings per share. On average, equities research analysts forecast that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

PROCEPT BioRobotics Company Profile

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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