State of New Jersey Common Pension Fund D Purchases 2,938 Shares of PROCEPT BioRobotics Corporation $PRCT

State of New Jersey Common Pension Fund D raised its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,631 shares of the company’s stock after buying an additional 2,938 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of PROCEPT BioRobotics worth $1,880,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new position in shares of PROCEPT BioRobotics during the first quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PROCEPT BioRobotics during the first quarter worth $40,000. CWM LLC grew its position in shares of PROCEPT BioRobotics by 69.5% in the 1st quarter. CWM LLC now owns 873 shares of the company’s stock valued at $51,000 after purchasing an additional 358 shares during the period. AlphaQuest LLC grew its position 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 valued at $63,000 after purchasing an additional 1,010 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of PROCEPT BioRobotics by 32.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company’s stock valued at $64,000 after purchasing an additional 270 shares during the period. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRCT. Morgan Stanley decreased their price objective 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. BTIG Research reiterated a “neutral” rating on shares of PROCEPT BioRobotics in a research report on Tuesday, September 16th. Wells Fargo & Company decreased their price objective on PROCEPT BioRobotics from $75.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Stephens began coverage on PROCEPT BioRobotics in a research report on Wednesday, July 9th. They issued an “overweight” rating and a $70.00 price objective for the company. Finally, Piper Sandler decreased their price objective 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. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PROCEPT BioRobotics currently has an average rating of “Moderate Buy” and an average target price of $67.50.

PROCEPT BioRobotics Trading Down 1.0%

NASDAQ:PRCT opened at $34.03 on Friday. PROCEPT BioRobotics Corporation has a twelve month low of $32.11 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 $36.76 and a two-hundred day moving average price of $48.33. The company has a market cap of $1.89 billion, a P/E ratio of -21.95 and a beta of 0.99.

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. The firm had revenue of $79.18 million during the quarter, compared to the consensus estimate of $75.67 million. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business’s revenue was up 48.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.50) EPS. As a group, analysts expect that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

PROCEPT BioRobotics Company Profile

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).