TD Asset Management Inc Boosts Holdings in PROCEPT BioRobotics Corporation $PRCT

Key Points

• TD Asset Management Inc increased its stake in PROCEPT BioRobotics by 33.9% during Q2, owning 158,270 shares valued at approximately $9.1 million.
• Research analysts have mixed ratings for PROCEPT BioRobotics, with an average consensus rating of "Moderate Buy" and a target price of $67.50.
• Shares of PROCEPT BioRobotics experienced a 2.9% decline recently, opening at $32.97, significantly lower than its 12-month high of $103.81.

TD Asset Management Inc grew its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 33.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 158,270 shares of the company's stock after purchasing an additional 40,026 shares during the period. TD Asset Management Inc owned approximately 0.29% of PROCEPT BioRobotics worth $9,116,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its position in shares of PROCEPT BioRobotics by 22.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company's stock worth $124,892,000 after purchasing an additional 391,215 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of PROCEPT BioRobotics by 43.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock worth $82,462,000 after purchasing an additional 429,461 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of PROCEPT BioRobotics by 47.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company's stock worth $61,510,000 after purchasing an additional 341,906 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of PROCEPT BioRobotics by 43.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 748,557 shares of the company's stock worth $43,611,000 after purchasing an additional 225,894 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in shares of PROCEPT BioRobotics by 48.0% during the 1st quarter. Champlain Investment Partners LLC now owns 676,196 shares of the company's stock worth $39,395,000 after purchasing an additional 219,266 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRCT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. BTIG Research reaffirmed a "neutral" rating on shares of PROCEPT BioRobotics in a research note on Tuesday, September 16th. Piper Sandler cut their price target on PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company cut their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Finally, Truist Financial cut their price target on PROCEPT BioRobotics from $64.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PROCEPT BioRobotics presently has an average rating of "Moderate Buy" and a consensus target price of $67.50.

PROCEPT BioRobotics Trading Down 2.9%

Shares of PRCT stock opened at $32.97 on Monday. The firm has a 50-day moving average price of $37.72 and a 200 day moving average price of $49.50. PROCEPT BioRobotics Corporation has a twelve month low of $32.11 and a twelve month high of $103.81. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -21.27 and a beta of 0.99. The company has a current ratio of 9.21, a quick ratio of 7.86 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, beating 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 firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. During the same quarter in the previous year, the company posted ($0.50) EPS. The firm's revenue for the quarter was up 48.3% on a year-over-year basis. Research analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

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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