Assetmark Inc. Acquires New Holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Assetmark Inc. bought a new position in PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,289 shares of the company's stock, valued at approximately $667,000.

Other hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. purchased a new position in PROCEPT BioRobotics in the fourth quarter worth $32,000. IFP Advisors Inc acquired a new stake in shares of PROCEPT BioRobotics in the 4th quarter worth $58,000. Arcadia Investment Management Corp MI purchased a new position in PROCEPT BioRobotics during the 4th quarter worth $64,000. Wilmington Savings Fund Society FSB purchased a new stake in PROCEPT BioRobotics in the third quarter valued at about $64,000. Finally, Canton Hathaway LLC acquired a new stake in PROCEPT BioRobotics in the third quarter worth about $66,000. 89.46% of the stock is owned by hedge funds and other institutional investors.

PROCEPT BioRobotics Stock Down 3.3 %

PRCT opened at $57.59 on Thursday. The company has a market cap of $3.16 billion, a PE ratio of -29.53 and a beta of 1.06. PROCEPT BioRobotics Co. has a twelve month low of $45.56 and a twelve month high of $103.81. The company has a 50-day moving average price of $71.60 and a 200 day moving average price of $79.53. The company has a quick ratio of 5.07, a current ratio of 6.02 and a debt-to-equity ratio of 0.21.

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PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). PROCEPT BioRobotics had a negative net margin of 50.07% and a negative return on equity of 38.57%. The firm had revenue of $68.24 million during the quarter, compared to analysts' expectations of $66.79 million. Sell-side analysts expect that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRCT. Wells Fargo & Company reissued an "overweight" rating and set a $112.00 target price on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Morgan Stanley dropped their price objective on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Truist Financial restated a "buy" rating and issued a $90.00 target price (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group assumed coverage on PROCEPT BioRobotics in a research note on Thursday, November 14th. They set a "hold" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.29.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company 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).

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