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

VELA Investment Management LLC boosted its holdings in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 62.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,722 shares of the company’s stock after acquiring an additional 43,513 shares during the period. VELA Investment Management LLC owned 0.20% of PROCEPT BioRobotics worth $2,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PRCT. Advisory Services Network LLC increased its stake in shares of PROCEPT BioRobotics by 1.3% during the second quarter. Advisory Services Network LLC now owns 20,109 shares of the company’s stock worth $1,158,000 after acquiring an additional 250 shares during the period. Osaic Holdings Inc. boosted its stake in shares of 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 in the last quarter. ProShare Advisors LLC grew its holdings in PROCEPT BioRobotics by 4.7% during the fourth quarter. ProShare Advisors LLC now owns 9,726 shares of the company’s stock worth $306,000 after acquiring an additional 438 shares during the period. California State Teachers Retirement System raised its position in PROCEPT BioRobotics by 1.4% in the second quarter. California State Teachers Retirement System now owns 49,446 shares of the company’s stock worth $2,848,000 after acquiring an additional 693 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in PROCEPT BioRobotics by 436.3% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup lowered shares of PROCEPT BioRobotics to a “hold” rating in a research report on Thursday, July 2nd. UBS Group cut shares of PROCEPT BioRobotics from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Tuesday, July 28th. Evercore set a $23.00 target price on shares of PROCEPT BioRobotics in a research report on Wednesday, August 5th. Robert W. Baird set a $20.00 target price on shares of PROCEPT BioRobotics in a report on Wednesday, August 5th. Finally, TD Cowen dropped their target price on shares of PROCEPT BioRobotics from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.09.

Insider Transactions at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, CEO Larry Wood acquired 23,900 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $20.85 per share, for a total transaction of $498,315.00. Following the completion of the purchase, the chief executive officer directly owned 23,900 shares in the company, valued at $498,315. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

PROCEPT BioRobotics Price Performance

PRCT opened at $22.76 on Tuesday. The firm has a market cap of $1.30 billion, a P/E ratio of -11.73 and a beta of 0.91. PROCEPT BioRobotics Corporation has a 52 week low of $16.67 and a 52 week high of $41.51. The company has a quick ratio of 5.35, a current ratio of 6.55 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $20.36 and its 200 day simple moving average is $23.62.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.47) earnings per share 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 during the quarter, compared to analyst estimates of $92.77 million. During the same period in the prior year, the firm earned ($0.35) EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.67 EPS for the current fiscal 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.