Thematics Asset Management Increases Stake in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Thematics Asset Management significantly increased its stake in PROCEPT BioRobotics Corporation by 39,180.6%, acquiring an additional 225,680 shares, bringing its total ownership to 226,256 shares worth approximately $13.2 million.
• Institutional investors collectively own 89.46% of PROCEPT BioRobotics, with other firms also increasing their positions in the first quarter of the year.
• PROCEPT BioRobotics reported a 48.3% increase in quarterly revenue year-over-year, reaching $79.18 million, although it posted a loss of ($0.35) EPS, which was better than analysts' expectations.

Thematics Asset Management lifted its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 39,180.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 226,256 shares of the company's stock after purchasing an additional 225,680 shares during the period. Thematics Asset Management owned approximately 0.41% of PROCEPT BioRobotics worth $13,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd acquired a new position in shares of PROCEPT BioRobotics in the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in PROCEPT BioRobotics during the 1st quarter worth approximately $40,000. CWM LLC grew its holdings in PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after acquiring an additional 358 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after acquiring an additional 270 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in PROCEPT BioRobotics by 358.9% during the 1st quarter. IFP Advisors Inc now owns 3,313 shares of the company's stock worth $193,000 after acquiring an additional 2,591 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company's stock.

Insider Buying and Selling

In related news, Director Antal Rohit Desai sold 25,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the sale, the director owned 14,363 shares in the company, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 100,000 shares of company stock valued at $6,271,250. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on PRCT. Wells Fargo & Company lowered their price target on shares of PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Oppenheimer began coverage on shares of PROCEPT BioRobotics in a report on Monday, July 7th. They set a "market perform" rating for the company. Piper Sandler lowered their price target on shares of PROCEPT BioRobotics from $80.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, 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 target for the company. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.88.

PROCEPT BioRobotics Trading Up 0.7%

Shares of PROCEPT BioRobotics stock traded up $0.28 during trading hours on Wednesday, hitting $40.80. The company had a trading volume of 721,947 shares, compared to its average volume of 1,418,402. The company's 50-day moving average is $51.42 and its two-hundred day moving average is $56.06. PROCEPT BioRobotics Corporation has a twelve month low of $37.12 and a twelve month high of $103.81. 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 issued its earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) 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 business had revenue of $79.18 million during the quarter, compared to analysts' expectations of $75.67 million. During the same quarter in the prior year, the business posted ($0.50) EPS. The company's revenue for the quarter was up 48.3% on a year-over-year basis. Sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current 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).