PROCEPT BioRobotics Corporation (NASDAQ:PRCT) Shares Acquired by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP increased its stake in PROCEPT BioRobotics by 43.2%, now owning around 1.35% of the company, valued at approximately $43.6 million.
• Several other institutional investors have also adjusted their holdings in PROCEPT BioRobotics, with hedge funds and other institutions owning 89.46% of the stock.
• Wall Street analysts have mixed views on PROCEPT BioRobotics, with seven buy ratings, two hold ratings, and one sell rating, reflecting a consensus rating of "Moderate Buy".

Westfield Capital Management Co. LP grew its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 43.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 748,557 shares of the company's stock after acquiring an additional 225,894 shares during the period. Westfield Capital Management Co. LP owned about 1.35% of PROCEPT BioRobotics worth $43,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PRCT. ANTIPODES PARTNERS Ltd purchased a new position in PROCEPT BioRobotics during the first quarter valued at approximately $30,000. Thematics Asset Management purchased a new position in PROCEPT BioRobotics during the fourth quarter valued at approximately $46,000. CWM LLC increased its holdings in PROCEPT BioRobotics by 69.5% during the first quarter. CWM LLC now owns 873 shares of the company's stock valued at $51,000 after buying an additional 358 shares during the period. Nisa Investment Advisors LLC increased its holdings in PROCEPT BioRobotics by 32.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock valued at $64,000 after buying an additional 270 shares during the period. Finally, IFP Advisors Inc increased its holdings in PROCEPT BioRobotics by 358.9% during the first quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock valued at $193,000 after buying an additional 2,591 shares during the period. Institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRCT shares. Stephens initiated coverage on shares of PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective on the stock. Oppenheimer initiated coverage on shares of PROCEPT BioRobotics in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Morgan Stanley cut their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Truist Financial cut their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $74.88.

Insider Transactions at PROCEPT BioRobotics

In related news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the transaction, the director directly owned 14,363 shares in the company, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 100,000 shares of company stock worth $6,271,250 in the last three months. Insiders own 6.60% of the company's stock.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT traded down $1.18 on Friday, hitting $38.41. 2,345,360 shares of the company were exchanged, compared to its average volume of 1,474,037. The firm has a market capitalization of $2.13 billion, a P/E ratio of -24.78 and a beta of 1.05. The stock's 50 day moving average price is $56.97 and its 200 day moving average price is $58.90. PROCEPT BioRobotics Corporation has a 1-year low of $37.12 and a 1-year high of $103.81. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 24.45%. The firm's quarterly revenue was up 48.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.50) earnings per share. Sell-side analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

About PROCEPT BioRobotics

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).