Exploring PROCEPT BioRobotics Corporation (PRCT) Investor Profile: Who’s Buying and Why?

You're looking at PROCEPT BioRobotics Corporation (PRCT) and wondering why the stock is a magnet for the biggest institutional players, especially when the company is still running at a loss. Honestly, the answer is simple: they are betting on a disruptive growth story, not near-term earnings. As of late 2025, a staggering 96.6% of the company's shares are held by institutions like FMR LLC, The Vanguard Group, Inc., and BlackRock, Inc., suggesting deep conviction in the Aquablation platform's market penetration. For the full fiscal year 2025, management is guiding for total revenue of approximately $325.5 million, representing a robust 45% growth over the prior year, even as they project an Adjusted EBITDA loss of about ($35.0) million. Are these firms overlooking the current net loss, which analysts forecast around ($84.6) million for the year, or are they seeing a clear runway to dominate the BPH treatment space? This is defintely a growth-at-all-costs play right now.

Who Invests in PROCEPT BioRobotics Corporation (PRCT) and Why?

You're looking at PROCEPT BioRobotics Corporation (PRCT) and wondering who is driving the stock and what their endgame is. The direct takeaway is this: the investment is overwhelmingly institutional, driven by a long-term growth thesis on their proprietary Aquablation technology, not immediate profit. These investors are buying a high-growth, pre-profit medical device story.

To be fair, this is not a stock for the faint of heart or for value investors; it's a pure growth play. You need to have conviction that the AquaBeam Robotic System will become the standard of care for Benign Prostatic Hyperplasia (BPH). The company is projected to hit approximately $325.5 million in total revenue for the 2025 fiscal year, representing a massive 45% growth rate, but still expects an Adjusted EBITDA loss of around ($35.0) million. Here's the quick math: high growth now, profits much later.

The Dominant Institutional Investor Profile

The investor base for PROCEPT BioRobotics Corporation is heavily concentrated among institutional players. This means mutual funds, pension funds, and asset managers-not individual retail investors-control the narrative. Institutional ownership sits at a staggering 89.46% to 90.28% of the total shares outstanding.

This high concentration signals two things: deep-pocketed investors believe in the long-term story, and the stock can be prone to volatility when these large funds make portfolio adjustments. You see names like BlackRock, Inc., Vanguard Group Inc, and Alliancebernstein L.P. as top holders, which are typically long-term, passive investors who buy into market-leading growth stories.

• Fmr Llc: Largest institutional holder.
• Vanguard Group Inc: A major passive index fund presence.
• BlackRock, Inc.: Significant stake, often a sign of index inclusion.

Motivations: Why They're Buying a Loss-Making Company

The primary motivation is market penetration and the recurring revenue model, not dividends (the company pays none). Investors are focused on the rapid adoption of the AquaBeam Robotic System, which uses a heat-free, image-guided waterjet (Aquablation therapy) for BPH treatment. This is a classic razor-and-blade model: sell the system (the razor) and profit from the disposable handpieces (the blades).

The growth is concrete: the company expects to sell approximately 213 new robotic systems in the U.S. in 2025 and approximately 52,000 handpieces, a 61% unit volume increase for the latter. This procedure volume growth is the key catalyst. Plus, the potential expansion into prostate cancer treatment, aiming for commercialization by early 2028, offers a huge, future addressable market. The average analyst price target is in the $55.60 to $59.78 range, suggesting a significant upside from current levels.

Investment Strategies: The Long-Term Growth Bet

The dominant strategy here is Growth Investing. Investors are buying a story of future profitability, expected around the end of 2027, based on continued high revenue growth and operational leverage. They are willing to overlook the current net loss of $21.4 million (Q3 2025) because the gross margin is improving, reaching 65% in the third quarter.

Hedge funds and other active managers are also heavily involved in Accumulation, materially increasing their positions, which suggests they see the recent stock price as an attractive entry point for a long-term hold. This strategy requires a high-conviction view that the company can execute on its expansion plans and that no rival technology will emerge to disrupt its niche. The risk is high, but the potential return-if the company achieves its long-term revenue projections-is substantial. If you want a deeper dive into the numbers, you can check out Breaking Down PROCEPT BioRobotics Corporation (PRCT) Financial Health: Key Insights for Investors.

The investment is a bet on the technology, defintely.

Institutional Ownership and Major Shareholders of PROCEPT BioRobotics Corporation (PRCT)

The investor profile for PROCEPT BioRobotics Corporation (PRCT) is overwhelmingly institutional, which is a critical factor for any investor to understand. As of the Q3 2025 filings (September 30, 2025), a staggering 89.46% of the company's stock is held by hedge funds and other institutional investors. This means a small number of large, professional money managers control the vast majority of the shares, so their collective decisions defintely move the stock.

Here's the quick math: with a total of 58,008,441 institutional shares held, these firms collectively represent a total value of holdings of approximately $1.65 billion (based on the latest available data). This high concentration of ownership is typical for a growth-oriented medical technology company like PROCEPT BioRobotics. You are not trading against retail investors here; you are trading alongside or against the world's largest financial institutions.

Top Institutional Investors and Their Stakes

The top shareholders in PROCEPT BioRobotics Corporation are a who's who of the asset management world, reflecting the company's inclusion in major index funds and active large-cap growth strategies. The top three alone-FMR LLC, Vanguard Group Inc., and BlackRock, Inc.-hold a substantial chunk of the company's equity. This concentration gives them significant influence over shareholder votes and corporate governance.

The table below details the largest institutional positions as of the September 30, 2025, reporting date, providing a clear picture of who is anchoring the stock.

Note: MRQ stands for Most Recent Quarter.

Recent Shifts in Institutional Ownership

A look at the recent 13F filings shows a pattern of significant institutional accumulation, which is a bullish sign even as the stock price has faced headwinds. While 139 institutions decreased their positions, a comparable 135 institutions increased their holdings in the last reported quarter. More importantly, the net share activity favors the buyers.

• Institutions increased their positions by a total of 10,883,306 shares.
• Institutions decreased their positions by a total of 6,433,984 shares.

This suggests a net accumulation of over 4.4 million shares. For example, Chicago Capital, LLC boosted its stake by a massive 175.733%, adding nearly a million shares to its position. Alliancebernstein L.P. also showed strong conviction, increasing its holding by 58.554%. This aggressive buying by several key players indicates a belief in the long-term growth story, despite the near-term volatility.

The Impact of Large Investors on PRCT's Strategy

Institutional investors are the primary market makers for PROCEPT BioRobotics Corporation, meaning their buying and selling drives the stock price. The sheer volume of their trades can create significant volatility, especially given the stock's price decline from a high of $90.98 in November 2024 to around $29.69 by November 2025. This drop occurred even as the company beat consensus estimates with Q3 revenue of $83.33 million, up 42.6% year-over-year. This is a classic case of market sentiment overriding strong operational performance.

The high institutional ownership also means these firms have a strong voice in the company's strategic direction, particularly regarding capital allocation, executive compensation, and the overall Mission Statement, Vision, & Core Values of PROCEPT BioRobotics Corporation (PRCT). While most are passive investors (Schedule 13G filers), the collective weight of their holdings keeps management focused on long-term value creation. Analysts, whose average price target for PRCT is still high at $59.78, are clearly signaling that the institutional accumulation is justified by the fundamentals, even if the current market price is depressed.

Key Investors and Their Impact on PROCEPT BioRobotics Corporation (PRCT)

If you're looking at PROCEPT BioRobotics Corporation (PRCT), the first thing to understand is that this stock is overwhelmingly controlled by institutional money, not retail investors. This means the big funds-the whales-are dictating the stock's movements, so you need to track their activity closely. As of the end of Q3 2025, institutional investors and hedge funds owned between 89.46% and 90.28% of the outstanding shares, a highly concentrated level of ownership that amplifies the impact of any large fund's buying or selling.

Their conviction is tied to the company's growth story in surgical robotics, specifically the Aquablation therapy for benign prostatic hyperplasia (BPH). The company's reiterated 2025 revenue guidance of approximately $325.5 million, up 45% over 2024, is a strong signal that the core business is working, even as the company posts a Q3 2025 net loss of $21.4 million.

The Institutional Whales: Who Holds the Largest Stakes

The investor profile for PROCEPT BioRobotics Corporation (PRCT) is dominated by some of the largest asset managers in the world. These firms are generally passive holders, meaning they own the stock as part of broader index funds or large-cap growth portfolios, but their sheer size gives them enormous influence. Their buy-and-hold strategy provides a critical floor of stability for the stock, but their movements can still create significant price action.

Here's a look at the top institutional holders as of the September 30, 2025, 13F filings, which is the freshest data we have:

Blackrock Inc, a firm I know well, holds over 4.2 million shares, valuing their stake at approximately $125.31 million. These massive positions signal long-term belief in the company's market penetration and the adoption of the AQUABEAM Robotic System. You can dive deeper into the company's foundation and business model here: PROCEPT BioRobotics Corporation (PRCT): History, Ownership, Mission, How It Works & Makes Money.

Recent Notable Moves and Their Influence

The most telling moves aren't always from the largest holders, but from those making significant changes. Chicago Capital, LLC, for instance, made a huge statement in Q3 2025 by increasing its position by nearly a million shares-specifically, 999,873 new shares. This aggressive accumulation, bringing their total to 1,568,845 shares valued at $55.99 million, shows a strong belief that the stock is undervalued despite its price decline throughout 2025.

Also, Alliancebernstein L.P. boosted its holdings by a substantial 1,262,928 shares in the same quarter. When you see this kind of buying, it's a concrete signal that smart money is betting the growth story, which saw Q3 2025 revenue hit $83.3 million, will win out over near-term volatility.

• Chicago Capital's buy: A clear vote of confidence in the long-term upside.
• Alliancebernstein's increase: Suggests a positive outlook on future earnings, not just current sales.

To be fair, there's been some selling, too. Insider trading data from 2025 shows net selling over the last 12 months, with Director Antal Rohit Desai selling a large volume of shares in June 2025. This is a natural, albeit sometimes unsettling, part of a high-growth company's life cycle, but it's defintely something to monitor.

Activist Pressure and Stock Volatility

Investor influence isn't always about buying and selling; sometimes it's about public criticism, which is a form of activism. In January 2025, short-seller Spruce Point Capital Management issued a detailed 'Strong Sell' report. This report challenged the company's valuation, calling the tech 'hype' and questioning the safety and market size of Aquablation therapy, which created significant stock volatility.

This is a classic risk-reward scenario: the short-seller sees a valuation disconnect-PRCT traded at a high multiple of its 2025 estimated revenue-while institutional buyers see the rapid sales growth (Q2 2025 revenue rose 48% year-over-year to $79.2 million) as justification for the premium. The stock's reaction to such reports highlights the influence of these activist positions, forcing the market to re-evaluate the risk. Analyst ratings, like Truist lowering its price target to $50 from $64 in October 2025 while maintaining a 'Buy' rating, also create short-term stock movement. It's a constant tug-of-war between growth investors and valuation realists.

Market Impact and Investor Sentiment

The investor profile for PROCEPT BioRobotics Corporation (PRCT) is a study in dichotomy right now: institutional conviction remains high, but the stock price action tells a story of near-term fear. You're seeing a classic battle between long-term growth investors and a market worried about execution and macro risks.

Despite the company maintaining its full-year 2025 revenue guidance at approximately $325.5 million, the stock price has fallen sharply, hitting a new 52-week low of around $29.50 in November 2025. The stock is down roughly 48% to 54% year-to-date, suggesting that while the long-term thesis holds for major players, the immediate sentiment is defintely negative.

Investor Sentiment: Institutional Conviction vs. Price Reality

Major shareholders are largely positive, or at least committed, which is why institutional ownership sits at an extremely high level, around 90.28% of the float. These are not quick-money hedge funds, but large asset managers focused on the multi-year adoption curve of the AquaBeam Robotic System.

However, that high ownership percentage hasn't protected the stock from a brutal re-rating. The market is pricing in significant risks, primarily around procedure utilization-how often the systems are actually used-and a potential slowdown in capital equipment spending by hospitals. It's a growth story, but the path to profitability is still a question mark.

• Institutional Holding: 90.28% (High conviction).
• Stock Performance: Down 48%+ YTD (Negative market signal).
• Near-Term Risk: Utilization rates and capital equipment demand.

The Institutional Backbone: Who's Buying and Holding

The investor base is dominated by the world's largest asset managers, which speaks to the perceived quality of PROCEPT BioRobotics Corporation's disruptive technology in urologic surgery. Funds like BlackRock, The Vanguard Group, and FMR LLC are the anchors here, holding massive stakes that signal a long-term belief in the company's Mission Statement, Vision, & Core Values of PROCEPT BioRobotics Corporation (PRCT).

For example, BlackRock, Inc. holds approximately 4.21 million shares, making it one of the top three institutional owners. This isn't a speculative bet; it's a core allocation to a medical device innovator. The table below shows the top institutional holders as of the most recent filings, demonstrating the scale of their commitment.

Recent Market Reactions and Ownership Shifts

The market's reaction to Q3 2025 earnings was a perfect example of selling the news, even when the news was technically good. PROCEPT BioRobotics Corporation beat analyst estimates, posting revenue of $83.33 million versus the consensus of $80.78 million, and a smaller-than-expected loss per share of ($0.38). Still, the stock hit a new low.

This negative reaction was likely driven by a modest reduction in the Q4 handpiece guidance, which highlights the utilization issue. On the other hand, a few smart-money players see the dip as a buying opportunity. Chicago Capital, LLC, for instance, dramatically increased its position in Q3 2025, adding nearly 1 million shares to its stake. However, the insider trading picture is less rosy, with company insiders selling a total of over $12 million in stock over the past year, which is always a data point you need to consider.

Analyst Perspectives: The Path to $59.78

The analyst community remains largely bullish, giving the stock a consensus 'Moderate Buy' rating. This is a vote of confidence in the long-term revenue growth story, which is expected to continue its impressive pace.

The current average 12-month price target is approximately $59.78, suggesting a significant upside from the current trading price. Here's the quick math: that target implies a potential return of over 100% from the recent 52-week low. But you need to be aware that even the bullish analysts are pulling back their expectations; for instance, some firms have recently cut their price targets from the $80s down to the $50-$55 range to reflect the current market headwinds and execution risks. The core thesis is sound, but the timeline for that payoff is being extended.