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Nouri Alaleh, the Executive Vice President, Chief Legal Officer, and Corporate Secretary at PROCEPT BioRobotics Corp (NASDAQ:PRCT), a $3.25 billion medical devices company that has shown impressive revenue growth of 65% over the last twelve months, recently sold shares of the company. According to a recent SEC filing, Alaleh sold 3,641 shares at an average price of $61.31 each, totaling approximately $223,229. Following this transaction, Alaleh holds 61,789 shares of PROCEPT BioRobotics. The sale was executed to cover tax withholding obligations related to the vesting of Restricted Stock Units. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 9.07x, though the stock appears overvalued according to InvestingPro’s Fair Value model. For deeper insights and additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Procept BioRobotics Corp reported its fourth-quarter 2024 earnings, showcasing a revenue of $68.24 million, which exceeded forecasts of $66.83 million. Despite this revenue beat, the company’s earnings per share (EPS) slightly missed expectations, coming in at -$0.35 compared to the anticipated -$0.34. Procept BioRobotics experienced a 57% year-over-year increase in revenue for the quarter, driven by new product launches and FDA clearances, which are fueling the company’s growth. The firm also anticipates a 43% revenue growth for the fiscal year 2025.
In discussions with Jefferies, Procept BioRobotics’ management expressed optimism about the company’s competitive positioning in the treatment of benign prostatic hyperplasia (BPH) and the opportunities in prostate cancer. Jefferies maintained a Hold rating on Procept BioRobotics with a price target of $77.00, reflecting the company’s current standing and future expectations. Additionally, the management highlighted improvements in the procedure environment following saline shortages and projected healthy utilization rates for 2025. These recent developments indicate that Procept BioRobotics is positioning itself favorably within its market segments despite facing competition.
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