DNB Asset Management AS Buys Shares of 31,719 PROCEPT BioRobotics Corporation $PRCT

DNB Asset Management AS bought a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 31,719 shares of the company’s stock, valued at approximately $1,132,000. DNB Asset Management AS owned 0.06% of PROCEPT BioRobotics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of PROCEPT BioRobotics in the 3rd quarter valued at approximately $30,000. Vega Investment Solutions increased its stake in PROCEPT BioRobotics by 52.0% in the second quarter. Vega Investment Solutions now owns 775 shares of the company’s stock valued at $45,000 after purchasing an additional 265 shares in the last quarter. US Bancorp DE raised its holdings in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $60,000 after purchasing an additional 1,079 shares during the period. AlphaQuest LLC boosted its position in shares of PROCEPT BioRobotics by 1,262.5% during the second quarter. AlphaQuest LLC now owns 1,090 shares of the company’s stock worth $63,000 after purchasing an additional 1,010 shares in the last quarter. Finally, CWM LLC boosted its position in shares of PROCEPT BioRobotics by 40.7% during the second quarter. CWM LLC now owns 1,228 shares of the company’s stock worth $71,000 after purchasing an additional 355 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Stock Up 1.4%

Shares of PROCEPT BioRobotics stock opened at $26.26 on Wednesday. The firm has a market cap of $1.48 billion, a PE ratio of -15.36 and a beta of 1.02. The business’s 50 day simple moving average is $29.70 and its 200 day simple moving average is $33.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85. PROCEPT BioRobotics Corporation has a 52-week low of $19.35 and a 52-week high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share 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 for the quarter, compared to analyst estimates of $93.70 million. During the same period last year, the company earned ($0.35) EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial dropped their price objective on PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group started coverage on PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price target on the stock. Morgan Stanley decreased their price objective on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Bank of America cut PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Finally, Wells Fargo & Company cut their price target on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Hold” and an average target price of $41.90.

PROCEPT BioRobotics Company 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.