Connor Clark & Lunn Investment Management Ltd. Acquires 32,015 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in PROCEPT BioRobotics Co. (NASDAQ:PRCT) by 187.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 0.09% of PROCEPT BioRobotics worth $3,956,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of PROCEPT BioRobotics by 290.2% during the 3rd quarter. Principal Financial Group Inc. now owns 68,617 shares of the company’s stock worth $5,498,000 after buying an additional 51,030 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $367,000. Oppenheimer & Co. Inc. bought a new position in shares of PROCEPT BioRobotics during the 3rd quarter worth approximately $842,000. KBC Group NV lifted its position in shares of PROCEPT BioRobotics by 32.6% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $123,000 after buying an additional 376 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in shares of PROCEPT BioRobotics by 44.4% during the 3rd quarter. RiverPark Advisors LLC now owns 3,192 shares of the company’s stock worth $256,000 after buying an additional 981 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PRCT shares. 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. Truist Financial restated a “buy” rating and set a $90.00 price target (down previously from $105.00) on shares of PROCEPT BioRobotics in a research note 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 note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.29.

PROCEPT BioRobotics Stock Up 2.8 %

PROCEPT BioRobotics stock opened at $57.62 on Monday. PROCEPT BioRobotics Co. has a 1-year low of $45.56 and a 1-year high of $103.81. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -29.55 and a beta of 1.05. The company has a current ratio of 6.02, a quick ratio of 5.07 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $70.07 and a 200 day simple moving average of $79.05.

PROCEPT BioRobotics (NASDAQ:PRCT) 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 analysts’ expectations of $66.79 million. On average, analysts predict that PROCEPT BioRobotics Co. will post -1.75 earnings per share for the current year.

PROCEPT BioRobotics 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).