Rhenman & Partners Asset Management AB grew its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 56.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 611,000 shares of the company's stock after purchasing an additional 221,000 shares during the period. PROCEPT BioRobotics makes up about 1.8% of Rhenman & Partners Asset Management AB's holdings, making the stock its 18th largest holding. Rhenman & Partners Asset Management AB owned approximately 1.09% of PROCEPT BioRobotics worth $19,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in PRCT. Center for Financial Planning Inc. purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $40,000. US Bancorp DE grew its position in shares of PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $60,000 after purchasing an additional 1,079 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of PROCEPT BioRobotics by 90.7% in the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company's stock valued at $98,000 after purchasing an additional 810 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of PROCEPT BioRobotics by 20.3% in the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company's stock valued at $115,000 after purchasing an additional 337 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of PROCEPT BioRobotics by 24.0% in the third quarter. IFP Advisors Inc now owns 5,024 shares of the company's stock valued at $179,000 after purchasing an additional 974 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, EVP Alaleh Nouri sold 5,363 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $25.96, for a total value of $139,223.48. Following the completion of the transaction, the executive vice president directly owned 105,354 shares in the company, valued at approximately $2,734,989.84. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 7,373 shares of company stock valued at $196,135 in the last ninety days. Corporate insiders own 6.60% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on PRCT shares. Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $51.00 to $34.00 and set an "overweight" rating for the company in a research report on Thursday, February 26th. Truist Financial dropped their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Oppenheimer reiterated a "market perform" rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. Jefferies Financial Group lowered PROCEPT BioRobotics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of PROCEPT BioRobotics in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PROCEPT BioRobotics has an average rating of "Hold" and an average target price of $41.36.
Get Our Latest Stock Analysis on PROCEPT BioRobotics
PROCEPT BioRobotics Trading Down 7.2%
Shares of PROCEPT BioRobotics stock opened at $25.70 on Friday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -14.12 and a beta of 0.85. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $62.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.51 and a current ratio of 6.73. The stock has a 50 day moving average of $25.84 and a 200 day moving average of $28.36.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). The business had revenue of $83.13 million during the quarter, compared to analysts' expectations of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The company's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.45) earnings per share. As a group, research analysts predict that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.
About PROCEPT BioRobotics
(
Free Report)
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.
Further Reading
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