Osterweis Capital Management Inc. Acquires 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 position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 98.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,735 shares of the company's stock after acquiring an additional 85,990 shares during the quarter. Osterweis Capital Management Inc. owned approximately 0.31% of PROCEPT BioRobotics worth $10,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of PROCEPT BioRobotics by 43.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock worth $82,462,000 after purchasing an additional 429,461 shares during the period. Capital Fund Management S.A. grew its stake in shares of PROCEPT BioRobotics by 105.1% during the first quarter. Capital Fund Management S.A. now owns 27,371 shares of the company's stock worth $1,595,000 after purchasing an additional 14,023 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PROCEPT BioRobotics during the first quarter worth $40,000. Hsbc Holdings PLC grew its stake in shares of PROCEPT BioRobotics by 14.2% during the first quarter. Hsbc Holdings PLC now owns 163,044 shares of the company's stock worth $9,499,000 after purchasing an additional 20,234 shares during the period. Finally, Algert Global LLC grew its stake 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 worth $2,930,000 after purchasing an additional 26,440 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 4.8%

Shares of PRCT stock traded up $1.88 on Friday, hitting $41.23. 727,270 shares of the stock were exchanged, compared to its average volume of 1,581,803. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.29 billion, a P/E ratio of -26.60 and a beta of 1.05. The business has a 50-day moving average of $52.59 and a 200 day moving average of $56.70. PROCEPT BioRobotics Corporation has a fifty-two week low of $37.12 and a fifty-two week high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $79.18 million for the quarter, compared to analyst estimates of $75.67 million. During the same quarter in the prior year, the company posted ($0.50) earnings per share. PROCEPT BioRobotics's revenue was up 48.3% on a year-over-year basis. Equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Stephens started coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 target price for the company. Oppenheimer started coverage on PROCEPT BioRobotics in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, PROCEPT BioRobotics has an average rating of "Moderate Buy" and an average price target of $74.88.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the sale, the director owned 14,363 shares in the company, valued at approximately $883,180.87. This represents a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 100,000 shares of company stock worth $6,271,250 in the last 90 days. Corporate insiders own 6.60% of the company's stock.

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).