Citigroup Inc. Purchases 45,979 Shares of PROCEPT BioRobotics Corporation $PRCT

Citigroup Inc. increased its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 55.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,885 shares of the company’s stock after buying an additional 45,979 shares during the quarter. Citigroup Inc. owned 0.23% of PROCEPT BioRobotics worth $4,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRCT. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of PROCEPT BioRobotics in the second quarter valued at approximately $5,892,000. Lisanti Capital Growth LLC bought a new position in PROCEPT BioRobotics in the second quarter valued at $2,532,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in PROCEPT BioRobotics by 109.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,874 shares of the company’s stock valued at $9,209,000 after buying an additional 83,498 shares during the last quarter. Chicago Capital LLC lifted its position in PROCEPT BioRobotics by 175.7% during the 3rd quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock worth $55,992,000 after buying an additional 999,873 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in shares of PROCEPT BioRobotics by 104.8% during the 2nd quarter. Candriam S.C.A. now owns 63,125 shares of the company’s stock worth $3,636,000 after buying an additional 32,301 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PRCT. Piper Sandler lowered their target price on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Leerink Partners decreased 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Thursday, January 22nd. Jefferies Financial Group cut shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Truist Financial lowered their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a report on Friday. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics presently has an average rating of “Hold” and an average price target of $41.90.

PROCEPT BioRobotics Trading Up 1.4%

PRCT stock opened at $26.26 on Wednesday. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -15.36 and a beta of 1.02. The company has a fifty day moving average price of $29.70 and a two-hundred day moving average price of $33.24. PROCEPT BioRobotics Corporation has a one year low of $19.35 and a one year high of $66.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its earnings results on Wednesday, February 25th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate 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 company had revenue of $76.38 million for the quarter, compared to the consensus estimate of $93.70 million. During the same period in the previous year, the firm posted ($0.35) EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current 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.