Procaps Group (NASDAQ:PROC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Procaps Group (NASDAQ:PROC – Get Rating) from a sell rating to a hold rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “Procaps Group is a developer of pharmaceutical and nutraceutical solutions, medicines and hospital supplies. It develops, manufactures and markets over-the-counter and prescription drugs, nutritional supplements and high-potency clinical solutions. Procaps Group, formerly known as Union Acquisition Corp. II, is based in BARRANQUILLA, Colombia. “

PROC opened at $8.01 on Friday. The company has a 50 day moving average of $8.06 and a two-hundred day moving average of $8.87. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 3.12. Procaps Group has a 52-week low of $5.86 and a 52-week high of $11.98.

Several hedge funds have recently made changes to their positions in PROC. Compass Group LLC purchased a new position in shares of Procaps Group in the third quarter valued at $7,687,000. Berkley W R Corp purchased a new position in shares of Procaps Group in the third quarter valued at $3,344,000. Sectoral Asset Management Inc purchased a new position in shares of Procaps Group in the third quarter valued at $2,798,000. Itau Unibanco Holding S.A. boosted its stake in Procaps Group by 148.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 297,974 shares of the company’s stock valued at $2,861,000 after acquiring an additional 177,974 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in Procaps Group during the 3rd quarter valued at $458,000. Institutional investors and hedge funds own 1.72% of the company’s stock.

About Procaps Group (Get Rating)

Procaps Group SA develops, produces, and markets pharmaceutical solutions worldwide. The company formulates, manufactures, and markets branded prescription drugs in various therapeutic areas, including feminine care products, pain relief, skin care, digestive health, growth and development, cardiology, vision care, central nervous system, and respiratory.

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