Mitsubishi UFJ Asset Management Co. Ltd. Acquires 39,516 Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 107.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,376 shares of the company's stock after purchasing an additional 39,516 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of PROCEPT BioRobotics worth $4,450,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 14,363 shares of the company's stock, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 100,000 shares of company stock worth $6,271,250. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRCT shares. Wells Fargo & Company cut their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stephens started coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price objective for the company. Morgan Stanley lowered their price objective on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler lowered their price objective on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.88.

PROCEPT BioRobotics Price Performance

Shares of PRCT stock traded down $0.26 on Thursday, reaching $40.12. 1,316,597 shares of the company's stock were exchanged, compared to its average volume of 1,616,452. PROCEPT BioRobotics Corporation has a 52 week low of $37.12 and a 52 week high of $103.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. The company's fifty day simple moving average is $55.23 and its 200 day simple moving average is $58.02.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $75.67 million. During the same period last year, the company earned ($0.50) EPS. PROCEPT BioRobotics's quarterly revenue was up 48.3% compared to the same quarter last year. On average, equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

PROCEPT BioRobotics 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).