William Blair Investment Management LLC Purchases 54,396 Shares of PROCEPT BioRobotics Corporation $PRCT

William Blair Investment Management LLC increased its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 383,017 shares of the company’s stock after purchasing an additional 54,396 shares during the quarter. William Blair Investment Management LLC owned approximately 0.69% of PROCEPT BioRobotics worth $13,670,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Chicago Capital LLC increased its position in PROCEPT BioRobotics by 175.7% during the third quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after buying an additional 999,873 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of PROCEPT BioRobotics by 113.5% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,598,349 shares of the company’s stock worth $92,065,000 after acquiring an additional 849,792 shares during the period. Mackenzie Financial Corp acquired a new position in shares of PROCEPT BioRobotics during the 2nd quarter worth approximately $40,819,000. Champlain Investment Partners LLC increased its holdings in shares of PROCEPT BioRobotics by 58.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,070,646 shares of the company’s stock worth $61,669,000 after acquiring an additional 394,450 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in PROCEPT BioRobotics by 38.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company’s stock valued at $48,720,000 after acquiring an additional 378,844 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PRCT. UBS Group assumed coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price objective for the company. Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. Morgan Stanley lowered their price target on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. TD Cowen cut their price objective on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Leerink Partners reduced their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.90.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $25.90 on Tuesday. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.46 billion, a P/E ratio of -15.15 and a beta of 1.03. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $66.85. The firm has a 50-day moving average price of $29.83 and a two-hundred day moving average price of $33.34.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The business had revenue of $76.38 million during the quarter, compared to analyst estimates of $93.70 million. PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. Analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

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.