VELA Investment Management LLC Acquires New Position in PROCEPT BioRobotics Corporation $PRCT

VELA Investment Management LLC acquired a new stake in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,238 shares of the company’s stock, valued at approximately $1,203,000. VELA Investment Management LLC owned about 0.07% of PROCEPT BioRobotics at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd bought a new position in PROCEPT BioRobotics in the third quarter valued at approximately $30,000. US Bancorp DE increased its stake in PROCEPT BioRobotics by 175.7% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $60,000 after acquiring an additional 1,079 shares during the last quarter. Lazard Asset Management LLC increased its stake in PROCEPT BioRobotics by 90.7% in the second quarter. Lazard Asset Management LLC now owns 1,703 shares of the company’s stock valued at $98,000 after acquiring an additional 810 shares during the last quarter. Osaic Holdings Inc. increased its stake in 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 acquiring an additional 337 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in PROCEPT BioRobotics by 24.0% in the third quarter. IFP Advisors Inc now owns 5,024 shares of the company’s stock valued at $179,000 after acquiring an additional 974 shares during the last quarter. 89.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of PROCEPT BioRobotics from $51.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Truist Financial decreased their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Bank of America cut shares of PROCEPT BioRobotics from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $38.00 to $20.00 in a research note on Thursday, February 26th. Robert W. Baird started coverage on shares of PROCEPT BioRobotics in a research note on Friday, March 6th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PROCEPT BioRobotics in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.45.

PROCEPT BioRobotics Stock Performance

NASDAQ PRCT opened at $24.63 on Friday. The firm’s fifty day moving average price is $25.18 and its two-hundred day moving average price is $29.50. The stock has a market cap of $1.40 billion, a PE ratio of -13.53 and a beta of 0.83. PROCEPT BioRobotics Corporation has a fifty-two week low of $19.35 and a fifty-two week high of $66.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.77 and a current ratio of 6.85.

PROCEPT BioRobotics (NASDAQ:PRCT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). The company had revenue of $83.13 million for the quarter, compared to the consensus estimate of $80.52 million. PROCEPT BioRobotics had a negative return on equity of 27.16% and a negative net margin of 31.82%.The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.45) EPS. On average, equities analysts expect that PROCEPT BioRobotics Corporation will post -1.54 EPS for the current fiscal year.

Insider Transactions at PROCEPT BioRobotics

In other news, EVP Alaleh Nouri sold 6,892 shares of PROCEPT BioRobotics stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.70, for a total transaction of $163,340.40. Following the transaction, the executive vice president owned 114,264 shares in the company, valued at approximately $2,708,056.80. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Waters sold 6,721 shares of PROCEPT BioRobotics stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.70, for a total transaction of $159,287.70. Following the transaction, the executive vice president owned 152,264 shares in the company, valued at approximately $3,608,656.80. This trade represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have acquired 426,262 shares of company stock worth $10,483,091 and have sold 23,229 shares worth $573,466. 6.60% of the stock is owned by company insiders.

About PROCEPT BioRobotics

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.