Mitsubishi UFJ Asset Management Co. Ltd. Sells 56,967 Shares of PROCEPT BioRobotics Corporation $PRCT

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 35.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,907 shares of the company’s stock after selling 56,967 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of PROCEPT BioRobotics worth $3,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in PROCEPT BioRobotics in the 2nd quarter valued at about $5,892,000. Lisanti Capital Growth LLC bought a new stake in PROCEPT BioRobotics in the 2nd quarter valued at $2,532,000. Chicago Capital LLC grew its holdings in PROCEPT BioRobotics by 175.7% in the 3rd quarter. Chicago Capital LLC now owns 1,568,845 shares of the company’s stock valued at $55,992,000 after buying an additional 999,873 shares in the last quarter. Candriam S.C.A. grew its stake in shares of PROCEPT BioRobotics by 104.8% in the second quarter. Candriam S.C.A. now owns 63,125 shares of the company’s stock valued at $3,636,000 after acquiring an additional 32,301 shares in the last quarter. Finally, C WorldWide Group Holding A S bought a new position in PROCEPT BioRobotics during the third quarter worth about $5,354,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

PROCEPT BioRobotics Stock Up 1.4%

Shares of NASDAQ PRCT opened at $26.26 on Wednesday. The stock has a market capitalization of $1.48 billion, a PE ratio of -15.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.85 and a quick ratio of 5.77. The business’s fifty day moving average price is $29.70 and its 200-day moving average price is $33.24. PROCEPT BioRobotics Corporation has a one year low of $19.35 and a one year high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last issued its earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). PROCEPT BioRobotics had a negative net margin of 31.02% and a negative return on equity of 25.13%. The business 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 earned ($0.35) EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

PRCT has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Piper Sandler dropped their price target on PROCEPT BioRobotics from $50.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Leerink Partners cut their target price on PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Wells Fargo & Company dropped their price objective on PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Finally, TD Cowen cut their price target on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.90.

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.