Mitsubishi UFJ Asset Management Co. Ltd. Buys 71,832 Shares of PROCEPT BioRobotics Corporation $PRCT

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCTFree Report) by 69.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 174,739 shares of the company’s stock after acquiring an additional 71,832 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in PROCEPT BioRobotics were worth $5,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE increased its position in shares of PROCEPT BioRobotics by 175.7% during 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 during the period. Lazard Asset Management LLC increased its position in shares of 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 buying an additional 810 shares during the period. Osaic Holdings Inc. increased its position in shares of PROCEPT BioRobotics by 20.3% during the second quarter. Osaic Holdings Inc. now owns 2,001 shares of the company’s stock valued at $115,000 after buying an additional 337 shares during the period. IFP Advisors Inc increased its position in shares of PROCEPT BioRobotics by 24.0% during the third quarter. IFP Advisors Inc now owns 5,024 shares of the company’s stock valued at $179,000 after buying an additional 974 shares during the period. Finally, Inceptionr LLC bought a new stake in shares of PROCEPT BioRobotics during the third quarter valued at about $212,000. 89.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group cut PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Oppenheimer reiterated a “market perform” rating on shares of PROCEPT BioRobotics in a research report on Thursday, February 26th. TD Cowen decreased their price target on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Bank of America lowered PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $38.00 to $20.00 in a report on Thursday, February 26th. Finally, Leerink Partners cut their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.45.

Get Our Latest Research Report on PRCT

PROCEPT BioRobotics Stock Up 4.1%

Shares of NASDAQ PRCT opened at $26.45 on Tuesday. PROCEPT BioRobotics Corporation has a 12 month low of $19.35 and a 12 month high of $66.85. The company has a current ratio of 6.73, a quick ratio of 5.51 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -14.53 and a beta of 0.83. The business has a 50-day moving average of $25.06 and a 200-day moving average of $29.17.

PROCEPT BioRobotics (NASDAQ:PRCTGet Free Report) last issued its quarterly earnings data 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 business had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $80.52 million. During the same period in the previous year, the firm posted ($0.45) EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. Sell-side analysts expect that PROCEPT BioRobotics Corporation will post -1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, EVP Kevin Waters sold 6,721 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.70, for a total value of $159,287.70. Following the completion of the sale, the executive vice president owned 152,264 shares of the company’s stock, valued at $3,608,656.80. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antal Rohit Desai bought 98,699 shares of the business’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $24.55 per share, with a total value of $2,423,060.45. Following the purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. 17.40% of the stock is owned by insiders.

PROCEPT BioRobotics Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PROCEPT BioRobotics (NASDAQ:PRCT)

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