PROCEPT BioRobotics Corporation $PRCT Shares Bought by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB boosted its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 105.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. PROCEPT BioRobotics accounts for about 1.5% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 27th biggest holding. Rhenman & Partners Asset Management AB’s holdings in PROCEPT BioRobotics were worth $13,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd acquired a new position in shares of PROCEPT BioRobotics in the 3rd quarter worth approximately $30,000. Vega Investment Solutions increased its holdings in PROCEPT BioRobotics by 52.0% in the 2nd quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after purchasing an additional 265 shares during the last quarter. US Bancorp DE raised its position in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after purchasing an additional 1,079 shares during the period. 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 worth $98,000 after purchasing an additional 810 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its stake in PROCEPT BioRobotics by 22.5% during the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock worth $101,000 after purchasing an additional 324 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRCT. Robert W. Baird assumed coverage on PROCEPT BioRobotics in a research note on Friday. They issued a “neutral” rating and a $30.00 price objective for the company. Jefferies Financial Group cut PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. TD Cowen dropped their target price on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a research note on Thursday, February 26th. Finally, Morgan Stanley reduced 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. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.82.

PROCEPT BioRobotics Trading Down 4.5%

NASDAQ:PRCT opened at $24.22 on Friday. The stock has a fifty day moving average price of $29.25 and a 200 day moving average price of $32.97. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics Corporation has a 12-month low of $19.35 and a 12-month high of $66.85. The firm has a market cap of $1.37 billion, a PE ratio of -14.16 and a beta of 1.02.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The company 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%. PROCEPT BioRobotics’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) EPS. Sell-side analysts anticipate 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.