Rhenman & Partners Asset Management AB Purchases New Position in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Rhenman & Partners Asset Management AB bought a new position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 279,000 shares of the company’s stock, valued at approximately $9,863,000. Rhenman & Partners Asset Management AB owned approximately 0.62% of PROCEPT BioRobotics at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Amundi bought a new position in PROCEPT BioRobotics in the 4th quarter worth about $37,000. Osaic Holdings Inc. grew its stake in PROCEPT BioRobotics by 31.0% during the second quarter. Osaic Holdings Inc. now owns 1,430 shares of the company’s stock valued at $51,000 after acquiring an additional 338 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of PROCEPT BioRobotics by 40.2% in the second quarter. Metropolitan Life Insurance Co NY now owns 1,989 shares of the company’s stock worth $70,000 after purchasing an additional 570 shares during the period. UBS Group AG raised its position in shares of PROCEPT BioRobotics by 127.9% in the third quarter. UBS Group AG now owns 1,823 shares of the company’s stock worth $75,000 after buying an additional 1,023 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc bought a new stake in PROCEPT BioRobotics during the second quarter valued at $117,000. 79.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial restated a “buy” rating and issued a $49.00 target price on shares of PROCEPT BioRobotics in a research note on Wednesday, September 13th. Piper Sandler began coverage on shares of PROCEPT BioRobotics in a research report on Friday, August 11th. They set an “overweight” rating and a $42.00 target price for the company. Leerink Partnrs reissued an “outperform” rating on shares of PROCEPT BioRobotics in a report on Monday, October 16th. Finally, SVB Leerink began coverage on shares of PROCEPT BioRobotics in a report on Monday, October 16th. They set an “outperform” rating and a $37.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PROCEPT BioRobotics currently has a consensus rating of “Buy” and a consensus target price of $43.00.

Insider Activity

In related news, Director Morgan Colby Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $32.19, for a total transaction of $804,750.00. Following the transaction, the director now directly owns 112,425 shares in the company, valued at approximately $3,618,960.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 19.60% of the stock is currently owned by corporate insiders.

PROCEPT BioRobotics Price Performance

NASDAQ PRCT traded up $0.48 on Tuesday, reaching $33.51. 122,640 shares of the company’s stock traded hands, compared to its average volume of 420,695. The stock has a market cap of $1.69 billion, a PE ratio of -14.30 and a beta of 0.63. PROCEPT BioRobotics Co. has a 12 month low of $24.83 and a 12 month high of $47.75. The stock has a 50-day simple moving average of $30.89 and a 200 day simple moving average of $32.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.91 and a quick ratio of 7.89.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, November 1st. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.02. The company had revenue of $35.10 million for the quarter, compared to analyst estimates of $33.44 million. PROCEPT BioRobotics had a negative net margin of 91.56% and a negative return on equity of 50.06%. The firm’s quarterly revenue was up 72.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) EPS. As a group, research analysts predict that PROCEPT BioRobotics Co. will post -2.14 earnings per share for the current year.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, develops transformative solutions in urology. It develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).