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SAN JOSE, CA—Kevin Waters (NYSE:WAT), Executive Vice President and Chief Financial Officer of PROCEPT BioRobotics Corp (NASDAQ:PRCT), recently sold 733 shares of the company’s common stock. The transaction, executed on March 18, was valued at approximately $41,824, with a weighted average price of $57.06 per share. The $3.1 billion medical devices company has shown strong revenue growth of 65% over the last twelve months, though its stock has declined 31% over the past six months.
Following this sale, which was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units, Waters now holds 107,991 shares in the company. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro, analysts have set price targets ranging from $77 to $105 for PRCT, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
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. Despite this revenue beat, the company posted an earnings per share (EPS) of -$0.35, slightly missing the expected -$0.34. The company experienced a 57% year-over-year increase in revenue, attributed to new product launches and FDA clearances, driving growth. Procept BioRobotics anticipates a 43% revenue growth in 2025, with a focus on expanding its installed base and increasing procedure volumes.
Jefferies recently maintained its Hold rating on Procept BioRobotics, setting a price target of $77.00, following discussions with company executives. The firm noted improvements in the procedure environment post-saline shortages and highlighted management’s positive outlook on the company’s competitive positioning in the treatment of benign prostatic hyperplasia (BPH). Additionally, Procept BioRobotics is optimistic about opportunities in prostate cancer treatment, positioning itself favorably in the market despite competition.
The company’s leadership conveyed optimism, with expectations for healthy utilization rates in fiscal year 2025, not heavily reliant on catch-up procedures. Procept BioRobotics’ strategic international expansion, particularly in the UK and Japan, is also a key driver of growth. The company plans to maintain a gross margin of 64.5% and projects an adjusted EBITDA loss of $35 million for 2025.
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