PROCEPT BioRobotics Corporation $PRCT Stock Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 32.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,810 shares of the company’s stock after selling 184,273 shares during the quarter. Federated Hermes Inc. owned about 0.68% of PROCEPT BioRobotics worth $13,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PRCT. Vega Investment Solutions raised its position in 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 acquiring an additional 265 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $30,000. AlphaQuest LLC raised its holdings in shares of PROCEPT BioRobotics by 1,262.5% in the 2nd quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares in the last quarter. CWM LLC lifted its stake in PROCEPT BioRobotics by 40.7% during the second quarter. CWM LLC now owns 1,228 shares of the company’s stock valued at $71,000 after purchasing an additional 355 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in PROCEPT BioRobotics by 90.7% during the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after purchasing an additional 810 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PRCT. Morgan Stanley decreased their price target on shares of PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Leerink Partners restated an “outperform” rating and issued a $55.00 target price on shares of PROCEPT BioRobotics in a report on Wednesday, November 5th. Wall Street Zen raised PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Jefferies Financial Group upgraded PROCEPT BioRobotics from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company dropped their price target on PROCEPT BioRobotics from $58.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.40.

PROCEPT BioRobotics Stock Down 0.5%

NASDAQ:PRCT opened at $28.96 on Friday. The business’s fifty day moving average price is $32.30 and its 200 day moving average price is $36.76. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -18.93 and a beta of 0.99. The company has a current ratio of 8.44, a quick ratio of 7.20 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics Corporation has a 1-year low of $27.80 and a 1-year high of $75.29.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. The company had revenue of $83.33 million for the quarter, compared to analysts’ expectations of $80.78 million. PROCEPT BioRobotics had a negative return on equity of 21.72% and a negative net margin of 28.20%.The business’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.40) EPS. On average, sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

PROCEPT BioRobotics 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.