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In a recent transaction filed with the SEC, Kevin Waters (NYSE:WAT), the Executive Vice President and Chief Financial Officer of PROCEPT BioRobotics Corp (NASDAQ:PRCT), a $3.25 billion medical devices company showing strong revenue growth of 65% over the last twelve months, sold 3,662 shares of the company’s common stock. The shares were sold at a weighted average price of $61.31, totaling approximately $224,517. Following this transaction, Waters holds 108,724 shares directly. The sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units. According to InvestingPro analysis, PRCT maintains exceptional liquidity with a current ratio of 9.07, though the stock currently trades above its Fair Value. For deeper insights into PRCT’s valuation and 6 additional key ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Procept BioRobotics Corp reported its fourth-quarter 2024 earnings with revenue reaching $68.24 million, surpassing the forecast of $66.83 million. However, the company posted an earnings per share (EPS) of -$0.35, slightly missing the expected -$0.34. The revenue growth was driven by new product launches and FDA clearances, contributing to a 57% year-over-year increase in Q4 revenue. The company anticipates a 43% revenue growth in 2025, projecting full-year revenue of $320 million. Jefferies maintained its Hold rating on Procept BioRobotics with a price target of $77, reflecting a stable outlook after discussions with key company executives. Management expressed optimism about their competitive positioning, particularly in the treatment of benign prostatic hyperplasia (BPH) and prostate cancer. Despite challenges like saline shortages impacting procedure volumes, the company sees positive recovery trends and strong momentum in international markets such as the UK and Japan.
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