Investing

CPMG Cuts Stake in Procept BioRobotics (PRCT)

Fintel reports that CPMG Inc has filed a 13D/A form with the SEC disclosing ownership of 7,420,552 shares of Procept BioRobotics Corp (PRCT). This represents 16.6% of the company.

In their previous filing dated September 13, 2022 they reported 9,246,425 shares and 20.70% of the company, a decrease in shares of 19.75% and a decrease in total ownership of 4.10% (calculated as current – previous percent ownership).

PROCEPT is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. PROCEPT develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia, or BPH. BPH is the most common prostate disease and impacts approximately 40 million men in the United States.

What are other large shareholders doing?

CPMG Inc holds 9,055,341 shares representing 20.25% ownership of the company. In it’s prior filing, the firm reported owning 10,918,393 shares, representing a decrease of 20.57%. The firm increased its portfolio allocation in PRCT by 2.70% over the last quarter.

T. Rowe Price Investment Management, Inc. holds 2,573,783 shares representing 5.76% ownership of the company.

Price T Rowe Associates Inc /md/ holds 1,071,234 shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 3,904,003 shares, representing a decrease of 264.44%. The firm decreased its portfolio allocation in PRCT by 79.89% over the last quarter.

Driehaus Capital Management Llc holds 870,874 shares representing 1.95% ownership of the company. In it’s prior filing, the firm reported owning 762,885 shares, representing an increase of 12.40%. The firm increased its portfolio allocation in PRCT by 35.34% over the last quarter.

Johnson & Johnson holds 863,908 shares representing 1.93% ownership of the company. In it’s prior filing, the firm reported owning 1,018,478 shares, representing a decrease of 17.89%. The firm increased its portfolio allocation in PRCT by 23.93% over the last quarter.

What is the overall institutional sentiment?

There are 258 funds or institutions reporting positions in Procept BioRobotics Corp. This is an increase of 37 owner(s) or 16.74%.

Average portfolio weight of all funds dedicated to Procept BioRobotics Corp is 0.4765%, an increase of 6.4317%. Total shares owned by institutions increased in the last three months by 2.25% to 35,712,693 shares.

Based on this information, institutional sentiment is bullish.

This article originally appeared on Fintel

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