Chicago Capital LLC Has $37.47 Million Holdings in PROCEPT BioRobotics Corporation $PRCT

Key Points

• Chicago Capital LLC cut its stake in PROCEPT BioRobotics by 24.1% in Q4, selling 377,850 shares and now owning 1,190,995 shares (2.13%) valued at about $37.47 million.
• Wall Street has trimmed expectations — several firms reduced price targets and the consensus rating is "Hold" with an average target of $40.82 after PROCEPT missed Q results (EPS -$0.53 vs -$0.32 est., revenue $76.38M vs $93.7M) while the stock trades near $25.

Chicago Capital LLC cut its holdings in PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,190,995 shares of the company's stock after selling 377,850 shares during the quarter. Chicago Capital LLC owned 2.13% of PROCEPT BioRobotics worth $37,469,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PRCT. Alliancebernstein L.P. increased its holdings in shares of PROCEPT BioRobotics by 58.6% during the third quarter. Alliancebernstein L.P. now owns 3,419,784 shares of the company's stock valued at $122,052,000 after acquiring an additional 1,262,928 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of PROCEPT BioRobotics by 23.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,970,147 shares of the company's stock worth $70,315,000 after acquiring an additional 371,798 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of PROCEPT BioRobotics by 105.2% in the 3rd quarter. Mackenzie Financial Corp now owns 1,454,434 shares of the company's stock worth $51,909,000 after acquiring an additional 745,778 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of PROCEPT BioRobotics by 34.3% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,437,897 shares of the company's stock worth $51,319,000 after acquiring an additional 367,251 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of PROCEPT BioRobotics by 38.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,365,099 shares of the company's stock worth $48,720,000 after acquiring an additional 378,844 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PRCT shares. TD Cowen reduced their target price on shares of PROCEPT BioRobotics from $50.00 to $34.00 and set a "buy" rating for the company 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 issued a "neutral" rating and a $30.00 target price for the company. Truist Financial reduced their target price on shares of PROCEPT BioRobotics from $47.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Jefferies Financial Group downgraded PROCEPT BioRobotics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Finally, Leerink Partners reduced their price objective on PROCEPT BioRobotics from $55.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.82.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ PRCT opened at $25.14 on Friday. The stock's 50-day moving average is $25.92 and its 200 day moving average is $30.19. The company has a current ratio of 6.85, a quick ratio of 5.77 and a debt-to-equity ratio of 0.14. PROCEPT BioRobotics Corporation has a 1-year low of $19.35 and a 1-year high of $66.85. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -14.70 and a beta of 0.94.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.21). The business had revenue of $76.38 million during the quarter, compared to the consensus estimate of $93.70 million. PROCEPT BioRobotics had a negative return on equity of 25.13% and a negative net margin of 31.02%.PROCEPT BioRobotics's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share. On average, sell-side analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Insider Activity

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

PROCEPT BioRobotics Profile

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.

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