PROCEPT BioRobotics Corporation $PRCT Shares Acquired by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. increased its stake in PROCEPT BioRobotics by 98.0% during the first quarter, now owning approximately 173,735 shares valued at $10.12 million.
• PROCEPT BioRobotics reported a revenue increase of 48.3% year-over-year, with quarterly earnings of ($0.35) per share, exceeding estimates by $0.06.
• Analysts hold an average rating of "Moderate Buy" for PROCEPT BioRobotics, with an average price target of $73.22, supported by upgrades from firms such as Oppenheimer and Wall Street Zen.

Osterweis Capital Management Inc. raised its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 98.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,735 shares of the company's stock after acquiring an additional 85,990 shares during the period. Osterweis Capital Management Inc. owned approximately 0.31% of PROCEPT BioRobotics worth $10,122,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PRCT. Deutsche Bank AG raised its holdings in PROCEPT BioRobotics by 54.6% in the 4th quarter. Deutsche Bank AG now owns 145,242 shares of the company's stock worth $11,695,000 after acquiring an additional 51,289 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in PROCEPT BioRobotics by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after acquiring an additional 150 shares during the period. Graham Capital Management L.P. bought a new stake in shares of PROCEPT BioRobotics in the fourth quarter worth approximately $230,000. Millennium Management LLC raised its holdings in shares of PROCEPT BioRobotics by 240.2% during the fourth quarter. Millennium Management LLC now owns 287,847 shares of the company's stock valued at $23,177,000 after purchasing an additional 203,241 shares during the last quarter. Finally, Occudo Quantitative Strategies LP grew its position in PROCEPT BioRobotics by 145.7% in the 4th quarter. Occudo Quantitative Strategies LP now owns 8,671 shares of the company's stock worth $698,000 after purchasing an additional 5,142 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Trading Down 3.6%

Shares of NASDAQ:PRCT traded down $1.41 during trading on Wednesday, hitting $38.17. The company had a trading volume of 374,444 shares, compared to its average volume of 1,016,968. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.21 and a quick ratio of 7.86. PROCEPT BioRobotics Corporation has a one year low of $36.90 and a one year high of $103.81. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -24.67 and a beta of 1.03. The company has a fifty day simple moving average of $46.02 and a two-hundred day simple moving average of $53.34.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative net margin of 30.60% and a negative return on equity of 23.73%. The company 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 firm posted ($0.50) EPS. The firm's revenue was up 48.3% compared to the same quarter last year. As a group, equities analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PRCT shares. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stephens began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 target price for the company. Piper Sandler cut 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 report on Thursday, August 7th. Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a research report on Tuesday, September 2nd. Finally, Wells Fargo & Company reduced their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.00.

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).