Nuveen LLC Makes New Investment in PROCEPT BioRobotics Corporation $PRCT

Nuveen LLC acquired a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 194,000 shares of the company’s stock, valued at approximately $11,302,000. Nuveen LLC owned about 0.35% of PROCEPT BioRobotics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc raised its holdings in PROCEPT BioRobotics by 1.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company’s stock worth $1,141,000 after purchasing an additional 150 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company’s stock worth $64,000 after buying an additional 270 shares during the period. CWM LLC grew its position in shares of PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company’s stock worth $51,000 after buying an additional 358 shares during the period. Arizona State Retirement System grew its position in shares of PROCEPT BioRobotics by 3.2% during the 1st quarter. Arizona State Retirement System now owns 14,737 shares of the company’s stock worth $859,000 after buying an additional 452 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of PROCEPT BioRobotics during the 1st quarter worth about $30,000. 89.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the transaction, the director owned 14,363 shares of the company’s stock, valued at $883,180.87. This represents a 63.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 100,000 shares of company stock worth $6,271,250. Corporate insiders own 6.60% of the company’s stock.

PROCEPT BioRobotics Trading Up 4.8%

NASDAQ:PRCT opened at $41.23 on Friday. PROCEPT BioRobotics Corporation has a twelve month low of $37.12 and a twelve month high of $103.81. The company has a quick ratio of 7.86, a current ratio of 9.21 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $52.59 and a two-hundred day moving average price of $56.70. The company has a market cap of $2.29 billion, a P/E ratio of -26.60 and a beta of 1.05.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. During the same quarter in the prior year, the firm posted ($0.50) EPS. The business’s revenue was up 48.3% on a year-over-year basis. As a group, analysts expect that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PRCT shares. Morgan Stanley decreased their target price on PROCEPT BioRobotics from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Piper Sandler decreased their target price on PROCEPT BioRobotics from $80.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Bank of America decreased their target price on PROCEPT BioRobotics from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Oppenheimer initiated coverage on PROCEPT BioRobotics in a research report on Monday, July 7th. They set a “market perform” rating for the company. Finally, Wall Street Zen upgraded PROCEPT BioRobotics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.88.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).