PROCEPT BioRobotics Corporation $PRCT Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its PROCEPT BioRobotics stake by 46.3% in the first quarter, holding 630,689 shares worth approximately $15.8 million, or 1.11% of the company. Institutional investors collectively own 89.46% of PRCT.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with an average price target of $28. Several firms recently lowered targets or downgraded the stock, including UBS Group, Leerink Partners, Piper Sandler, and TD Cowen.
• PRCT shares opened at $20.73 after a reported 5.4% decline. The company’s latest quarterly revenue rose 19.3% year over year to $94.5 million, but it posted a $0.47 per-share loss and faces heightened legal and reputational risk from securities-related class-action notices.

Bank of America Corp DE boosted its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 46.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 630,689 shares of the company's stock after acquiring an additional 199,484 shares during the period. Bank of America Corp DE owned 1.11% of PROCEPT BioRobotics worth $15,774,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PRCT. Advisory Services Network LLC increased its stake in PROCEPT BioRobotics by 1.3% during the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company's stock worth $1,158,000 after acquiring an additional 250 shares during the last quarter. Osaic Holdings Inc. boosted its stake in PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock worth $115,000 after buying an additional 337 shares during the period. ProShare Advisors LLC increased its position in shares of PROCEPT BioRobotics by 4.7% during the fourth quarter. ProShare Advisors LLC now owns 9,726 shares of the company's stock valued at $306,000 after acquiring an additional 438 shares during the last quarter. California State Teachers Retirement System increased its position in shares of PROCEPT BioRobotics by 1.4% during the second quarter. California State Teachers Retirement System now owns 49,446 shares of the company's stock valued at $2,848,000 after acquiring an additional 693 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of PROCEPT BioRobotics by 436.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company's stock valued at $29,000 after acquiring an additional 746 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on PRCT shares. UBS Group cut PROCEPT BioRobotics from a "buy" rating to a "neutral" rating and set a $20.00 price target on the stock. in a research note on Tuesday, July 28th. Wall Street Zen raised PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. Leerink Partners cut PROCEPT BioRobotics from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $31.00 to $29.00 in a report on Thursday, June 11th. Piper Sandler dropped their target price on PROCEPT BioRobotics from $35.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Finally, TD Cowen cut their price target on shares of PROCEPT BioRobotics from $34.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.00.

Trending Headlines about PROCEPT BioRobotics

Here are the key news stories impacting PROCEPT BioRobotics this week:

• Neutral Sentiment: The lawsuits are currently procedural and do not represent a court finding that PROCEPT or its executives violated securities laws. Investors who suffered losses have until September 22, 2026, to seek appointment as lead plaintiff. RGRD Law class-action deadline notice
• Negative Sentiment: The repeated alerts amplify legal and reputational risk around allegations that PROCEPT emphasized handpiece sales while underlying procedure demand was weaker, customer inventory levels were excessive, and late-quarter bulk discounts may have inflated reported sales. The notices claim these issues contributed to a substantial decline in the stock during the class period. Hagens Berman PROCEPT class-action notice
• Negative Sentiment: The unusually high volume of nearly identical law-firm announcements keeps the potential litigation in focus and may weigh on investor sentiment, particularly because any eventual settlement, judgment, or regulatory consequences could create financial costs. The supplied articles contain no new operational update to offset those concerns. Glancy Prongay securities-fraud lawsuit alert

PROCEPT BioRobotics Trading Down 5.4%

Shares of PROCEPT BioRobotics stock opened at $20.73 on Friday. The company has a current ratio of 6.55, a quick ratio of 5.35 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $20.49 and a 200-day simple moving average of $24.22. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -10.69 and a beta of 0.89. PROCEPT BioRobotics Corporation has a 12-month low of $16.67 and a 12-month high of $42.43.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.01). PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The company had revenue of $94.50 million during the quarter, compared to analysts' expectations of $92.77 million. During the same period last year, the firm earned ($0.35) earnings per share. PROCEPT BioRobotics's revenue was up 19.3% on a year-over-year basis. On average, equities analysts forecast that PROCEPT BioRobotics Corporation will post -1.67 EPS for the current fiscal year.

Insider Buying and Selling at PROCEPT BioRobotics

In related news, CEO Larry L. Wood bought 23,900 shares of the stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $20.85 per share, for a total transaction of $498,315.00. Following the purchase, the chief executive officer owned 23,900 shares of the company's stock, valued at $498,315. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 1,000 shares of company stock valued at $28,480. Company insiders own 4.00% of the company's stock.

About PROCEPT BioRobotics

PROCEPT BioRobotics, Inc is a medical device company specializing in the development and commercialization of robotic systems for the treatment of benign prostatic hyperplasia (BPH). The company's technology leverages precision robotics and real-time imaging to perform minimally invasive procedures, aiming to reduce patient recovery time and improve clinical outcomes compared to traditional surgical approaches.

The company's flagship product, the AquaBeam Robotic System, uses a high-velocity waterjet to selectively remove prostate tissue while preserving surrounding healthy structures.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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