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

A number of other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in PROCEPT BioRobotics by 5.0% in the first quarter. Rhumbline Advisers now owns 64,373 shares of the company's stock worth $3,750,000 after purchasing an additional 3,077 shares during the period. Intech Investment Management LLC boosted its holdings in PROCEPT BioRobotics by 54.4% in the first quarter. Intech Investment Management LLC now owns 28,389 shares of the company's stock worth $1,654,000 after purchasing an additional 10,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PROCEPT BioRobotics by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,158 shares of the company's stock worth $8,923,000 after purchasing an additional 13,767 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in PROCEPT BioRobotics in the first quarter worth $336,000. Finally, Polar Asset Management Partners Inc. acquired a new position in PROCEPT BioRobotics in the first quarter worth $4,194,000. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT opened at $38.64 on Friday. The stock's 50-day moving average price is $47.20 and its two-hundred day moving average price is $53.98. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.15 billion, a PE ratio of -24.93 and a beta of 1.03. PROCEPT BioRobotics Corporation has a 1 year low of $37.10 and a 1 year high of $103.81.

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 (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $79.18 million for the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business's revenue for the quarter was up 48.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.50) EPS. On average, analysts predict that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Oppenheimer raised shares of PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a report on Tuesday, September 2nd. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley dropped their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Wells Fargo & Company dropped their price target on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Stephens began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.22.

PROCEPT BioRobotics Company 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).

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