ArrowMark Colorado Holdings LLC Raises Stake in PROCEPT BioRobotics Corporation $PRCT

ArrowMark Colorado Holdings LLC grew its position in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 229.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,128,288 shares of the company’s stock after purchasing an additional 786,094 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 2.02% of PROCEPT BioRobotics worth $40,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRCT. Vega Investment Solutions raised its position in shares of PROCEPT BioRobotics by 52.0% during 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 period. JTC Employer Solutions Trustee Ltd purchased a new stake in PROCEPT BioRobotics in the 3rd quarter worth $30,000. US Bancorp DE increased its stake in PROCEPT BioRobotics by 175.7% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after buying an additional 1,079 shares in the last quarter. Lazard Asset Management LLC raised its holdings 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 acquiring an additional 810 shares during the period. Finally, RiverPark Advisors LLC raised its holdings in PROCEPT BioRobotics by 22.5% during the second quarter. RiverPark Advisors LLC now owns 1,761 shares of the company’s stock valued at $101,000 after acquiring an additional 324 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Alaleh Nouri sold 3,243 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.65, for a total transaction of $83,182.95. Following the completion of the transaction, the executive vice president directly owned 111,021 shares in the company, valued at approximately $2,847,688.65. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antal Rohit Desai bought 98,699 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired 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 of the company’s stock, valued at $10,464,732.10. This represents a 30.13% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 426,262 shares of company stock valued at $10,483,091 and have sold 16,856 shares valued at $405,811. Corporate insiders own 6.60% of the company’s stock.

PROCEPT BioRobotics Stock Up 3.9%

PRCT opened at $27.13 on Friday. The company has a market capitalization of $1.53 billion, a PE ratio of -15.87 and a beta of 1.02. The firm has a 50-day simple moving average of $28.71 and a two-hundred day simple moving average of $32.49. 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 Corporation has a 52 week low of $19.35 and a 52 week high of $66.85.

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

Wall Street Analyst Weigh In

PRCT has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. Truist Financial lowered their price target on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Leerink Partners dropped their price target on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of PROCEPT BioRobotics in a report on Thursday, February 26th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.82.

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.