TD Asset Management Inc Has $6.89 Million Stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT)

Key Points

• TD Asset Management Inc increased its stake in PROCEPT BioRobotics Corporation by 13.5% during the first quarter, owning 118,244 shares valued at approximately $6.89 million.
• Institutional investors collectively hold 89.46% of the company's stock, with various firms, including Baillie Gifford & Co. and Neo Ivy Capital Management, recently acquiring stakes.
• Analysts have mixed ratings for PROCEPT BioRobotics, with target price revisions leading to an average target of $84.13 and a consensus rating of "Moderate Buy."

TD Asset Management Inc increased its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,244 shares of the company's stock after buying an additional 14,044 shares during the period. TD Asset Management Inc owned 0.21% of PROCEPT BioRobotics worth $6,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. acquired a new position in shares of PROCEPT BioRobotics during the 1st quarter worth $18,287,000. Neo Ivy Capital Management bought a new position in PROCEPT BioRobotics during the first quarter valued at about $1,545,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics in the first quarter worth about $30,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of PROCEPT BioRobotics during the 1st quarter worth about $208,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of PROCEPT BioRobotics by 0.8% during the 1st quarter. Allianz Asset Management GmbH now owns 108,951 shares of the company's stock worth $6,347,000 after acquiring an additional 837 shares in the last quarter. Institutional investors own 89.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial reduced their target price on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 11th. Stephens assumed coverage on shares of PROCEPT BioRobotics in a report on Wednesday, July 9th. They set an "overweight" rating and a $70.00 price objective for the company. Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Oppenheimer started coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They issued a "market perform" rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and an average target price of $84.13.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $48.51 on Friday. The firm's 50-day moving average is $58.65 and its 200-day moving average is $60.45. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -28.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.75 and a current ratio of 8.95. PROCEPT BioRobotics Corporation has a 52-week low of $47.04 and a 52-week high of $103.81.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the transaction, the director owned 14,363 shares of the company's stock, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 100,000 shares of company stock worth $6,271,250 over the last 90 days. 6.60% of the stock is owned by company insiders.

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).

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