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SAN JOSE, Calif.—Reza Zadno, the President and CEO of PROCEPT BioRobotics Corp (NASDAQ:PRCT), a $3.1 billion medical technology company, recently sold shares worth approximately $312,403, according to a recent SEC filing. According to InvestingPro data, the company has shown strong revenue growth of 65% over the last twelve months, despite the stock declining 31% over the past six months. The transaction, dated March 18, involved the sale of 5,475 shares at a weighted average price of $57.06 per share. The sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units. Following this transaction, Zadno holds 173,070 shares in the company. Analysts maintain a bullish outlook with price targets ranging from $77 to $105. Get comprehensive insights and access to the detailed Pro Research Report for PRCT, along with 7 additional ProTips, by subscribing to InvestingPro.
In other recent news, Procept BioRobotics Corp reported its fourth-quarter 2024 earnings, highlighting a revenue of $68.24 million, which exceeded forecasts of $66.83 million. Despite this revenue beat, the company posted an earnings per share (EPS) of -$0.35, slightly missing the expected -$0.34. The company saw a 57% year-over-year increase in quarterly revenue, driven by new product launches and FDA clearances. Procept BioRobotics anticipates a 43% revenue growth in 2025, projecting a full-year revenue of $320 million.
Jefferies has maintained its Hold rating on Procept BioRobotics, with a price target set at $77.00. The firm noted discussions with company executives about the improving procedure environment and the company’s competitive positioning in the treatment of benign prostatic hyperplasia. Management expressed optimism about opportunities in prostate cancer treatment, despite facing competition. The company aims to expand its installed base and increase procedure volumes in the coming year.
Procept BioRobotics is also focusing on international expansion, with strong momentum noted in the UK and Japan markets. The company expects to maintain a gross margin of 64.5% in 2025, reflecting operational efficiencies and higher average selling prices. The firm is also investing in clinical trials for prostate cancer treatment, aiming to accelerate enrollment and potentially generate revenue in the future.
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