UBS Group AG Increases Position in PROCEPT BioRobotics Corporation $PRCT

Key Points

• UBS Group AG boosted its stake in PROCEPT BioRobotics by 11.5% in Q4, ending with 1,052,944 shares worth about $33.1 million. Institutional investors still dominate ownership, holding nearly 89.5% of the stock.
• Insiders sold shares recently, including EVP Alaleh Nouri and EVP Kevin Waters, though insiders also bought significantly more stock than they sold over the last three months overall.
• PROCEPT BioRobotics reported mixed quarterly results: revenue rose 20.1% year over year to $83.13 million, but EPS came in slightly below estimates at -$0.56. The stock traded around $25.40, and analysts currently rate it a consensus Hold.

UBS Group AG increased its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,052,944 shares of the company's stock after buying an additional 108,399 shares during the quarter. UBS Group AG owned about 1.88% of PROCEPT BioRobotics worth $33,126,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. DNB Asset Management AS acquired a new position in PROCEPT BioRobotics during the third quarter valued at $1,132,000. SG Americas Securities LLC lifted its position in PROCEPT BioRobotics by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 84,294 shares of the company's stock valued at $2,652,000 after purchasing an additional 49,457 shares during the period. Baillie Gifford & Co. lifted its position in PROCEPT BioRobotics by 18.3% during the fourth quarter. Baillie Gifford & Co. now owns 1,015,978 shares of the company's stock valued at $31,963,000 after purchasing an additional 157,147 shares during the period. C WorldWide Group Holding A S acquired a new position in PROCEPT BioRobotics during the third quarter valued at $5,354,000. Finally, Prosight Management LP acquired a new position in PROCEPT BioRobotics during the third quarter valued at $2,748,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Alaleh Nouri sold 5,363 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $25.96, for a total transaction of $139,223.48. Following the completion of the sale, the executive vice president directly owned 105,354 shares in the company, valued at approximately $2,734,989.84. The trade was a 4.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin Waters sold 6,721 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $159,287.70. Following the sale, the executive vice president owned 152,264 shares of the company's stock, valued at approximately $3,608,656.80. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders bought 426,262 shares of company stock worth $10,483,091 and sold 23,229 shares worth $573,466. 6.60% of the stock is owned by company insiders.

PROCEPT BioRobotics Stock Down 0.2%

PRCT opened at $25.40 on Friday. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. 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 company has a fifty day moving average of $25.06 and a two-hundred day moving average of $29.29. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -13.96 and a beta of 0.83.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.01). The company had revenue of $83.13 million for 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 firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. On average, research analysts expect that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRCT. Truist Financial decreased their target price on shares of 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 reaffirmed a "market perform" rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Wall Street Zen raised shares of PROCEPT BioRobotics from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Bank of America cut shares of PROCEPT BioRobotics from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $38.00 to $20.00 in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PROCEPT BioRobotics in a report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, PROCEPT BioRobotics presently has a consensus rating of "Hold" and an average price target of $41.45.

PROCEPT BioRobotics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.