Connor Clark & Lunn Investment Management Ltd. increased its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 187.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,126 shares of the company's stock after acquiring an additional 32,015 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of PROCEPT BioRobotics worth $3,956,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC raised its holdings in PROCEPT BioRobotics by 29.4% in the fourth quarter. HighTower Advisors LLC now owns 4,512 shares of the company's stock worth $363,000 after purchasing an additional 1,026 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PROCEPT BioRobotics by 4.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,968 shares of the company's stock valued at $1,125,000 after buying an additional 652 shares in the last quarter. Amundi raised its stake in PROCEPT BioRobotics by 0.9% during the 4th quarter. Amundi now owns 20,143 shares of the company's stock worth $1,742,000 after buying an additional 183 shares during the period. Naviter Wealth LLC lifted its holdings in PROCEPT BioRobotics by 6.0% during the fourth quarter. Naviter Wealth LLC now owns 3,089 shares of the company's stock worth $249,000 after acquiring an additional 176 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in PROCEPT BioRobotics in the fourth quarter valued at about $1,647,000. Institutional investors own 89.46% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on PRCT shares. Morgan Stanley lowered their target price on PROCEPT BioRobotics from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company reissued an "overweight" rating and set a $112.00 price objective on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Finally, Truist Financial reaffirmed a "buy" rating and issued a $90.00 price objective (down from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PROCEPT BioRobotics presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.29.
Read Our Latest Report on PROCEPT BioRobotics
PROCEPT BioRobotics Trading Up 2.4 %
NASDAQ PRCT traded up $1.41 on Monday, reaching $59.03. The company had a trading volume of 692,677 shares, compared to its average volume of 720,542. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -30.27 and a beta of 1.05. PROCEPT BioRobotics Co. has a fifty-two week low of $45.56 and a fifty-two week high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50 day moving average of $70.07 and a two-hundred day moving average of $79.05.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $68.24 million during the quarter, compared to the consensus estimate of $66.79 million. Analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current year.
PROCEPT BioRobotics Profile
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Free Report)
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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