After a 60% Slide, One Fund Cuts Exposure to This Healthcare Tech Stock by $12.5 Million

Company Overview - PROCEPT BioRobotics is a healthcare technology company specializing in robotic surgical systems for minimally invasive urology procedures, particularly targeting benign prostatic hyperplasia (BPH) treatment [6][9] - The company utilizes proprietary image-guided robotic systems to enhance patient outcomes and hospital efficiency, with a competitive edge stemming from its innovative Aquablation therapy and a growing installed base [6][9] Financial Performance - As of January 26, PROCEPT BioRobotics had a market capitalization of $1.65 billion, with a trailing twelve months (TTM) revenue of $299.91 million and a net income loss of $84.58 million [4] - The company reported a 43% year-over-year revenue increase in the third quarter, amounting to $83.3 million, and a gross margin expansion to 65% [11] - Management provided revenue guidance for 2026, projecting between $410 million and $430 million, indicating potential growth of up to 32% from 2025 levels [11] Recent Transactions - Chicago Capital disclosed a reduction in its stake in PROCEPT BioRobotics by 377,850 shares in the fourth quarter, translating to an estimated transaction value of $12.53 million [2][3] - Following this transaction, Chicago Capital's remaining stake in PROCEPT was valued at $37.47 million, with the position now accounting for 0.93% of its 13F assets, down from 1.38% in the previous quarter [2][3] Stock Performance - As of January 26, PROCEPT BioRobotics shares were priced at $29.61, reflecting a significant decline of 60.4% over the past year, contrasting sharply with the S&P 500's approximate 14% gain during the same period [3][11] - The stock's performance has raised concerns regarding operating losses, high spending, and the pace at which growth can lead to sustainable profitability, as evidenced by an adjusted EBITDA loss of $7.4 million in the quarter [11]