PROCEPT BioRobotics Corporation $PRCT Shares Bought by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its holdings in PROCEPT BioRobotics by 5.7% during the second quarter, now owning nearly 500,000 shares valued at approximately $28.6 million.
• PROCEPT BioRobotics reported a 48.3% year-over-year increase in revenue for the last quarter, totaling $79.18 million, while beating analysts' EPS estimates.
• Brokerages have recently updated their price targets for PROCEPT shares, with Wells Fargo lowering its target from $75 to $58, while maintaining an "overweight" rating.

Blair William & Co. IL grew its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 5.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 497,205 shares of the company's stock after buying an additional 26,919 shares during the period. Blair William & Co. IL owned 0.90% of PROCEPT BioRobotics worth $28,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Matisse Capital raised its position in shares of PROCEPT BioRobotics by 11.1% during the 2nd quarter. Matisse Capital now owns 20,360 shares of the company's stock worth $1,173,000 after acquiring an additional 2,040 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in PROCEPT BioRobotics by 15.5% in the second quarter. KLP Kapitalforvaltning AS now owns 11,200 shares of the company's stock valued at $645,000 after purchasing an additional 1,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in PROCEPT BioRobotics by 7.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,426 shares of the company's stock valued at $543,000 after purchasing an additional 647 shares during the last quarter. Chicago Capital LLC raised its holdings in PROCEPT BioRobotics by 34.7% during the second quarter. Chicago Capital LLC now owns 568,972 shares of the company's stock worth $32,773,000 after purchasing an additional 146,599 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in PROCEPT BioRobotics by 35.7% during the second quarter. Avior Wealth Management LLC now owns 6,673 shares of the company's stock worth $384,000 after purchasing an additional 1,755 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $34.83 on Friday. The firm has a market cap of $1.94 billion, a P/E ratio of -22.47 and a beta of 0.99. PROCEPT BioRobotics Corporation has a 52-week low of $33.83 and a 52-week high of $103.81. The business's 50-day moving average price is $39.14 and its 200 day moving average price is $50.70. 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 (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 analysts' consensus estimates of ($0.41) by $0.06. The company had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The firm's revenue for the quarter was up 48.3% on a year-over-year basis. During the same period last year, the firm earned ($0.50) EPS. On average, equities research analysts expect that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRCT. Wells Fargo & Company lowered their target price on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Piper Sandler decreased their price objective on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Stephens initiated coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 target price on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of PROCEPT BioRobotics in a report on Wednesday. Finally, BTIG Research reaffirmed a "neutral" rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.