Polar Asset Management Partners Inc. Buys Shares of 71,980 PROCEPT BioRobotics Corporation $PRCT

Key Points

• Polar Asset Management Partners Inc. has acquired a new position in PROCEPT BioRobotics, purchasing 71,980 shares valued at approximately $4.19 million, representing 0.13% of the company.
• Notable hedge funds, such as ANTIPODES PARTNERS Ltd and CWM LLC, have also made new investments in PROCEPT BioRobotics during the first quarter.
• PROCEPT BioRobotics stock recently saw a 6.1% increase and had a market capitalization of $2.26 billion, with a consensus price target of $73.22 from analysts.

Polar Asset Management Partners Inc. bought a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 71,980 shares of the company's stock, valued at approximately $4,194,000. Polar Asset Management Partners Inc. owned approximately 0.13% of PROCEPT BioRobotics at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd acquired a new stake in PROCEPT BioRobotics in the 1st quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PROCEPT BioRobotics in the 1st quarter valued at about $40,000. CWM LLC raised its position in PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after purchasing an additional 358 shares in the last quarter. Nisa Investment Advisors LLC raised its position in PROCEPT BioRobotics by 32.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after purchasing an additional 270 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $230,000. Institutional investors and hedge funds own 89.46% of the company's stock.

Wall Street Analyst Weigh In

PRCT has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Stephens assumed coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target on the stock. Piper Sandler cut their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley cut their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $73.22.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT traded up $1.74 during mid-day trading on Thursday, reaching $39.24. 543,075 shares of the stock were exchanged, compared to its average volume of 1,014,490. The company has a 50 day simple moving average of $47.61 and a 200-day simple moving average of $54.16. The stock has a market capitalization of $2.18 billion, a P/E ratio of -25.31 and a beta of 1.03. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. PROCEPT BioRobotics Corporation has a 1 year low of $37.10 and a 1 year high of $103.81.

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