Thematics Asset Management Raises Stock Position in PROCEPT BioRobotics Corporation $PRCT

Thematics Asset Management lifted its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 59.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 630,053 shares of the company’s stock after acquiring an additional 235,344 shares during the quarter. Thematics Asset Management owned about 1.13% of PROCEPT BioRobotics worth $22,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in PROCEPT BioRobotics by 1.3% in the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock valued at $1,158,000 after purchasing an additional 250 shares during the period. Vega Investment Solutions boosted its position in shares of PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock worth $45,000 after buying an additional 265 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 0.3% in the third quarter. Frank Rimerman Advisors LLC now owns 122,389 shares of the company’s stock valued at $4,368,000 after buying an additional 307 shares in the last quarter. RiverPark Advisors LLC grew its stake in shares of PROCEPT BioRobotics by 22.5% in the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after buying an additional 324 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of PROCEPT BioRobotics by 20.3% during the 2nd quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after buying an additional 337 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $159,287.70. Following the transaction, the executive vice president directly owned 152,264 shares in the company, valued at $3,608,656.80. This represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Antal Rohit Desai acquired 98,699 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were bought at an average cost of $24.55 per share, with a total value of $2,423,060.45. Following the completion of the acquisition, the director owned 426,262 shares in the company, valued at $10,464,732.10. This represents a 30.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 426,262 shares of company stock valued at $10,483,091 and have sold 16,856 shares valued at $405,811. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRCT. Robert W. Baird started coverage on PROCEPT BioRobotics in a report on Friday, March 6th. They issued a “neutral” rating and a $30.00 price target for the company. Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. UBS Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Finally, Truist Financial dropped their price target on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.82.

PROCEPT BioRobotics Price Performance

PRCT stock opened at $27.13 on Friday. The stock’s 50 day moving average is $28.71 and its two-hundred day moving average is $32.55. PROCEPT BioRobotics Corporation has a 52-week low of $19.35 and a 52-week high of $66.85. The company has a market capitalization of $1.53 billion, a PE ratio of -15.87 and a beta of 1.02. The company has a quick ratio of 5.77, a current ratio of 6.85 and a debt-to-equity ratio of 0.14.

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

About PROCEPT BioRobotics

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.