PROCEPT BioRobotics Corporation $PRCT Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC raised its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 62.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,722 shares of the company’s stock after purchasing an additional 43,513 shares during the period. VELA Investment Management LLC’s holdings in PROCEPT BioRobotics were worth $2,568,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in PROCEPT BioRobotics by 994.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,193 shares of the company’s stock worth $27,000 after buying an additional 1,084 shares during the last quarter. Nykredit A S acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of PROCEPT BioRobotics by 436.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 917 shares of the company’s stock worth $29,000 after acquiring an additional 746 shares during the period. Center for Financial Planning Inc. bought a new stake in PROCEPT BioRobotics in the 4th quarter valued at about $40,000. Finally, Cache Advisors LLC acquired a new position in PROCEPT BioRobotics during the 1st quarter valued at about $42,000. Institutional investors own 89.46% of the company’s stock.

PROCEPT BioRobotics Stock Performance

NASDAQ:PRCT opened at $22.76 on Tuesday. The stock has a fifty day simple moving average of $20.36 and a 200 day simple moving average of $23.62. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -11.73 and a beta of 0.91. The company has a quick ratio of 5.35, a current ratio of 6.55 and a debt-to-equity ratio of 0.15. PROCEPT BioRobotics Corporation has a 1-year low of $16.67 and a 1-year high of $41.51.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). PROCEPT BioRobotics had a negative net margin of 32.53% and a negative return on equity of 30.62%. The firm had revenue of $94.50 million for the quarter, compared to analyst estimates of $92.77 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts forecast that PROCEPT BioRobotics Corporation will post -1.67 earnings per share for the current year.

Insiders Place Their Bets

In other PROCEPT BioRobotics news, CEO Larry Wood bought 23,900 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were bought at an average price of $20.85 per share, for a total transaction of $498,315.00. Following the acquisition, the chief executive officer directly owned 23,900 shares of the company’s stock, valued at approximately $498,315. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PRCT shares. Wells Fargo & Company lowered shares of PROCEPT BioRobotics from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a research note on Wednesday, August 5th. Citigroup cut PROCEPT BioRobotics to a “hold” rating in a research report on Thursday, July 2nd. William Blair lowered PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 5th. Piper Sandler reduced their price target on PROCEPT BioRobotics from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Finally, Leerink Partners cut shares of PROCEPT BioRobotics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $31.00 to $29.00 in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, PROCEPT BioRobotics currently has an average rating of “Hold” and a consensus target price of $25.09.

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.