Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stake in PROCEPT BioRobotics Corporation $PRCT

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 35.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,907 shares of the company’s stock after selling 56,967 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in PROCEPT BioRobotics were worth $3,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP grew its stake in shares of PROCEPT BioRobotics by 23.3% during the third quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company’s stock valued at $70,315,000 after buying an additional 371,798 shares during the last quarter. US Bancorp DE boosted its holdings in PROCEPT BioRobotics by 175.7% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after acquiring an additional 1,079 shares during the period. Citigroup Inc. boosted its holdings in PROCEPT BioRobotics by 55.5% during the 3rd quarter. Citigroup Inc. now owns 128,885 shares of the company’s stock valued at $4,600,000 after acquiring an additional 45,979 shares during the period. Raiffeisen Bank International AG grew its position in PROCEPT BioRobotics by 28.6% during the 3rd quarter. Raiffeisen Bank International AG now owns 18,000 shares of the company’s stock worth $657,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Eagle Health Investments LP increased its stake in PROCEPT BioRobotics by 3.1% in the 3rd quarter. Eagle Health Investments LP now owns 308,434 shares of the company’s stock worth $11,008,000 after purchasing an additional 9,345 shares during the period. 89.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRCT. TD Cowen dropped their price objective on PROCEPT BioRobotics from $50.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. UBS Group started coverage on shares of PROCEPT BioRobotics in a research report on Friday, December 12th. They set a “buy” rating and a $62.00 price target for the company. Leerink Partners decreased their price objective on shares of PROCEPT BioRobotics from $55.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group downgraded shares of PROCEPT BioRobotics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Morgan Stanley cut their target price on PROCEPT BioRobotics from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Hold” and an average price target of $41.90.

PROCEPT BioRobotics Trading Up 1.4%

Shares of PRCT opened at $26.26 on Wednesday. The firm’s 50-day moving average price is $29.70 and its 200-day moving average price is $33.24. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -15.36 and a beta of 1.02. 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 Corporation has a 1-year low of $19.35 and a 1-year high of $66.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $76.38 million for the quarter, compared to analysts’ expectations of $93.70 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. PROCEPT BioRobotics’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current 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.