VELA Investment Management LLC Invests $1.20 Million in PROCEPT BioRobotics Corporation $PRCT

VELA Investment Management LLC purchased a new position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,238 shares of the company’s stock, valued at approximately $1,203,000.

A number of other hedge funds also recently modified their holdings of PRCT. JTC Employer Solutions Trustee Ltd acquired a new position in PROCEPT BioRobotics in the third quarter valued at $30,000. US Bancorp DE lifted 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 valued at $60,000 after buying an additional 1,079 shares during the period. Lazard Asset Management LLC lifted its holdings in PROCEPT BioRobotics by 90.7% in 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. lifted its holdings in PROCEPT BioRobotics by 20.3% in 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. Finally, IFP Advisors Inc lifted its holdings in PROCEPT BioRobotics by 24.0% in 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. Institutional investors and hedge funds own 89.46% of the company’s stock.

PROCEPT BioRobotics Price Performance

Shares of NASDAQ PRCT opened at $24.63 on Friday. The firm’s 50-day moving average price is $25.18 and its 200-day moving average price is $29.50. PROCEPT BioRobotics Corporation has a 1-year low of $19.35 and a 1-year high of $66.85. The firm has a market capitalization of $1.40 billion, a P/E ratio of -13.53 and a beta of 0.83. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its 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). The business had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.16% and a negative net margin of 31.82%.The company’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.45) earnings per share. Equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRCT shares. Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a report on Friday, March 6th. They issued a “neutral” rating and a $30.00 target price on the stock. Jefferies Financial Group lowered shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company dropped their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective (up from $28.00) on shares of PROCEPT BioRobotics in a report on Thursday. Finally, TD Cowen dropped their price objective on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.45.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai bought 98,699 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $24.55 per share, with a total value of $2,423,060.45. Following the completion of the transaction, the director directly owned 426,262 shares in the company, valued at approximately $10,464,732.10. The trade was a 30.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kevin Waters sold 6,721 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the sale, the executive vice president directly owned 152,264 shares of the company’s stock, valued at approximately $3,608,656.80. The trade was a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 426,262 shares of company stock valued at $10,483,091 and sold 23,229 shares valued at $573,466. 6.60% of the stock is currently owned by insiders.

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.