Fifth Third Bancorp Takes $994,000 Position in PROCEPT BioRobotics Corporation $PRCT

Fifth Third Bancorp purchased a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 39,732 shares of the company’s stock, valued at approximately $994,000. Fifth Third Bancorp owned approximately 0.07% of PROCEPT BioRobotics as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PRCT. Caitong International Asset Management Co. Ltd boosted its position in PROCEPT BioRobotics by 436.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after purchasing an additional 746 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $40,000. Cache Advisors LLC purchased a new stake in shares of PROCEPT BioRobotics in the first quarter valued at approximately $42,000. US Bancorp DE increased its position in shares of PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after buying an additional 1,079 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PRCT shares. Piper Sandler reissued an “overweight” rating and issued a $35.00 price target (up from $28.00) on shares of PROCEPT BioRobotics in a research note on Thursday, April 30th. Leerink Partners lowered shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $31.00 to $29.00 in a report on Thursday, June 11th. Weiss Ratings restated a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research report on Friday, July 17th. Wall Street Zen raised shares of PROCEPT BioRobotics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Evercore began coverage on shares of PROCEPT BioRobotics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.27.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $16.69 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.73 and a quick ratio of 5.51. The stock’s 50 day simple moving average is $23.34 and its 200-day simple moving average is $25.69. The company has a market cap of $949.99 million, a PE ratio of -9.17 and a beta of 0.87. PROCEPT BioRobotics Corporation has a 1-year low of $16.67 and a 1-year high of $58.87.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). PROCEPT BioRobotics had a negative return on equity of 27.70% and a negative net margin of 31.82%.The firm had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $80.52 million. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.53 EPS for the current fiscal year.

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.