Nuveen LLC Acquires New Shares in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Nuveen LLC has acquired a new position in PROCEPT BioRobotics Corporation, purchasing 194,000 shares valued at approximately $11.3 million, representing 0.35% of the company's total shares.
• Several institutional investors have increased their stakes in PROCEPT BioRobotics, with notable growth from Nisa Investment Advisors LLC and CWM LLC, showcasing strong institutional interest.
• Despite recent insider sales, including a director selling 25,000 shares, analysts remain optimistic with a consensus rating of "Moderate Buy" and a target price of $74.88 for the stock.

Nuveen LLC bought a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 194,000 shares of the company's stock, valued at approximately $11,302,000. Nuveen LLC owned 0.35% of PROCEPT BioRobotics at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in PROCEPT BioRobotics by 9.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock valued at $527,000 after acquiring an additional 723 shares in the last quarter. GAMMA Investing LLC lifted its position in PROCEPT BioRobotics by 7,021.1% in the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company's stock valued at $373,000 after acquiring an additional 6,319 shares in the last quarter. Bessemer Group Inc. lifted its position in PROCEPT BioRobotics by 50.7% in the 1st quarter. Bessemer Group Inc. now owns 10,900 shares of the company's stock valued at $635,000 after acquiring an additional 3,665 shares in the last quarter. Mariner LLC lifted its position in PROCEPT BioRobotics by 40.6% in the 4th quarter. Mariner LLC now owns 8,406 shares of the company's stock valued at $677,000 after acquiring an additional 2,429 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of PROCEPT BioRobotics by 5.0% during the 1st quarter. Rhumbline Advisers now owns 64,373 shares of the company's stock worth $3,750,000 after buying an additional 3,077 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the transaction, the director directly owned 14,363 shares in the company, valued at approximately $883,180.87. The trade was a 63.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 100,000 shares of company stock valued at $6,271,250. 6.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PRCT shares. Wells Fargo & Company dropped their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Oppenheimer started coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating on the stock. Stephens assumed coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 target price on the stock. Piper Sandler lowered their price target on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.88.

PROCEPT BioRobotics Stock Performance

PROCEPT BioRobotics stock traded down $0.46 during mid-day trading on Thursday, reaching $40.34. The company's stock had a trading volume of 688,365 shares, compared to its average volume of 1,334,868. PROCEPT BioRobotics Corporation has a 12-month low of $37.12 and a 12-month high of $103.81. The company has a market capitalization of $2.24 billion, a P/E ratio of -26.03 and a beta of 1.05. 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 firm's fifty day moving average price is $51.04 and its two-hundred day moving average price is $55.86.

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 analysts' consensus estimates of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The business had revenue of $79.18 million during the quarter, compared to analyst estimates of $75.67 million. During the same period in the previous year, the business earned ($0.50) EPS. PROCEPT BioRobotics's revenue was up 48.3% compared to the same quarter last year. Sell-side analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company 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).