Chicago Capital Doubles Down on PROCEPT BioRobotics, Adds $27 Million in Stock
Key Points
Chicago Capital added 969,592 shares of PROCEPT BioRobotics, an estimated $27.32 million trade based on the average share price in the first quarter of 2026.
Quarter-end position value rose by $16.57 million, reflecting both share purchases and price changes during the period.
The transaction represented a 0.74% increase relative to Chicago Capital’s $3.71 billion in 13F reportable assets under management.
Post-trade, the fund held 2,160,587 shares valued at $54.04 million.
The position now accounts for 1.46% of fund AUM, which places it outside the fund's top five holdings.
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What happened
According to a filing with the Securities and Exchange Commission dated April 23, 2026, Chicago Capital, LLC increased its holding in PROCEPT BioRobotics Corporation (NASDAQ:PRCT) by 969,592 shares from the previous quarter. The estimated value of the shares acquired is $27.32 million, calculated using the average unadjusted closing price for the first quarter of 2026. At the end of the quarter, the position's total value was $54.04 million.
What else to know
Chicago Capital increased its stake in PROCEPT BioRobotics, bringing the position to 1.46% of its 13F reportable AUM
- Top holdings after the filing:
- Alphabet: $212.79 million (5.7% of AUM)
- Meta Platforms: $162.41 million (4.4% of AUM)
- Amazon: $153.49 million (4.1% of AUM)
- Nvidia: $136.76 million (3.7% of AUM)
- Taiwan Semiconductor Manufacturing: $132.37 million (3.6% of AUM)
As of April 23, 2026, PROCEPT BioRobotics shares were priced at $24.24, down 56.5% over the past year, underperforming the S&P 500 by 91 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-04-23) | $24.24 |
| Market capitalization | $1.37 billion |
| Revenue (TTM) | $308.05 million |
| Net income (TTM) | ($95.57 million) |
Company Snapshot
PROCEPT BioRobotics:
- Develops, manufactures, and sells the AquaBeam Robotic System and Aquablation therapy for minimally invasive urologic surgery, primarily targeting benign prostatic hyperplasia (BPH).
- Generates revenue through sales of robotic systems, recurring consumables, and related services to healthcare providers.
- Serves hospitals, ambulatory surgery centers, and urology practices, with a primary focus on the U.S. market and expanding international presence.
PROCEPT BioRobotics Corporation is a surgical robotics innovator specializing in urology, focusing on image-guided, minimally invasive solutions for benign prostatic hyperplasia. The company leverages a recurring revenue model through system sales and ongoing consumable usage, supporting a growing installed base in the United States and select global markets. This strategy positions PROCEPT BioRobotics to capitalize on the growing demand for advanced, less-invasive urologic treatments.
What this transaction means for investors
PROCEPT BioRobotics stock is down 76% from its all-time set in 2024, and Chicago Capital is pouncing on the discounted shares. The firm has bought PRCT shares in seven of the last eight quarters as the stock declined from $80 to $25. As an up-and-coming, but still unprofitable stock, volatility like this is common among medical device and treatment companies as they first have to prove their efficacy and then build a business around their treatment.
PROCEPT BioRobotics’ AquaBeam Robotic System and Aquablation therapy for benign prostatic hyperplasia (BPH) appear to offer the best efficacy and have seen sales grow dramatically since their release. Since 2022, the company’s procedure count has grown from 7,400 to 43,000, while its installed base has risen from 167 to 718. Just as importantly, over the same time, PRCT’s EBITDA margins have improved from -91% to -16%, while gross margins jumped from 49% to 64%.
If PROCEPT can keep this sales momentum going as it adds market share, it could become an excellent investment, as it generates the majority of its revenue from recurring purchases of accessories and services needed to use its aquablation system. The company also recently received a “strong recommendation” from the European Association of Urology when treating BPH, paving the way for PRCT to continue its international growth. I really like PROCEPT BioRobotics’ growth potential and think Chicago Capital’s purchase makes a lot of sense, given the stock trades at an all-time low of 4.2 times sales. Due to its high-risk, high-reward nature, I would only recommend the stock to risk-tolerant, healthcare-savvy investors interested in medical devices.
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Josh Kohn-Lindquist has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
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