Osterweis Capital Management Inc. Purchases 85,990 Shares of PROCEPT BioRobotics Corporation $PRCT

Key Points

• Osterweis Capital Management Inc. significantly increased its stake in PROCEPT BioRobotics, owning approximately 173,735 shares valued at about $10.12 million, reflecting a 98% increase during the first quarter.
• PROCEPT BioRobotics shares recently traded at $39.72, down 2.4%, with a market capitalization of $2.21 billion and a notable debt-to-equity ratio of 0.13.
• The company reported earnings of ($0.35) per share for the last quarter, beating analysts' estimates and showing a 48.3% year-over-year revenue increase to $79.18 million.

Osterweis Capital Management Inc. lifted its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 98.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,735 shares of the company's stock after purchasing an additional 85,990 shares during the quarter. Osterweis Capital Management Inc. owned about 0.31% of PROCEPT BioRobotics worth $10,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 buying an additional 429,461 shares in the last quarter. Capital Fund Management S.A. increased its holdings in PROCEPT BioRobotics by 105.1% in the first quarter. Capital Fund Management S.A. now owns 27,371 shares of the company's stock valued at $1,595,000 after buying an additional 14,023 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in PROCEPT BioRobotics in the first quarter valued at about $40,000. Hsbc Holdings PLC increased its holdings in PROCEPT BioRobotics by 14.2% in the first quarter. Hsbc Holdings PLC now owns 163,044 shares of the company's stock valued at $9,499,000 after buying an additional 20,234 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of PROCEPT BioRobotics by 110.9% during the first quarter. Algert Global LLC now owns 50,288 shares of the company's stock valued at $2,930,000 after purchasing an additional 26,440 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ:PRCT traded down $0.4750 during trading on Monday, reaching $40.7550. The stock had a trading volume of 405,476 shares, compared to its average volume of 1,015,338. PROCEPT BioRobotics Corporation has a 52 week low of $37.12 and a 52 week high of $103.81. The business's 50-day moving average price is $52.59 and its 200 day moving average price is $56.48. The stock has a market capitalization of $2.27 billion, a PE ratio of -26.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings data 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. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The firm had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the previous year, the company posted ($0.50) EPS. PROCEPT BioRobotics's revenue was up 48.3% on a year-over-year basis. As a group, equities analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction 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 sale, the director owned 14,363 shares in the company, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 100,000 shares of company stock valued at $6,271,250 over the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stephens initiated coverage on PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 target price for the company. Wall Street Zen upgraded PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Oppenheimer began coverage on PROCEPT BioRobotics in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Finally, Morgan Stanley dropped their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.88.

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).