Arizona State Retirement System Boosts Stake in PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Arizona State Retirement System increased its stake in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,285 shares of the company’s stock after purchasing an additional 218 shares during the period. Arizona State Retirement System’s holdings in PROCEPT BioRobotics were worth $1,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PRCT. Raleigh Capital Management Inc. purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $32,000. IFP Advisors Inc purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $58,000. Wilmington Savings Fund Society FSB purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $64,000. Arcadia Investment Management Corp MI purchased a new position in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $64,000. Finally, Canton Hathaway LLC purchased a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PRCT. Jefferies Financial Group began coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a “hold” rating and a $95.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and issued a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price target on shares of PROCEPT BioRobotics from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.29.

PROCEPT BioRobotics Price Performance

Shares of PRCT opened at $56.03 on Friday. PROCEPT BioRobotics Co. has a twelve month low of $45.56 and a twelve month high of $103.81. The firm’s fifty day simple moving average is $71.15 and its 200-day simple moving average is $79.37. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -28.73 and a beta of 1.06. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21.

PROCEPT BioRobotics (NASDAQ:PRCT) last announced 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 firm had revenue of $68.24 million during the quarter, compared to analyst estimates of $66.79 million. Equities analysts forecast that PROCEPT BioRobotics Co. will post -1.75 EPS for the current fiscal year.

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).