Investors tracking insider activity at PROCEPT BioRobotics Corp (NASDAQ:PRCT) may note that the company's EVP and CFO, Kevin Waters (NYSE:WAT), has recently sold shares in the company. The transaction, which took place on March 18, 2024, involved the sale of 1,024 shares of common stock at a weighted average price of $48.83 per share, resulting in a total value of $50,001.
The sale was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units granted to Waters on March 31, 2022. Following the transaction, Waters still holds a significant stake in the company, with 102,149 shares of PROCEPT BioRobotics Corp remaining in his possession.
This move by a high-ranking executive might be of interest to current and potential shareholders as they assess the company's financial health and insider confidence. The sale was executed directly, ensuring that Waters' remaining investment in the company is transparent and straightforward.
As is common with such transactions, the price reported is a weighted average, which indicates that the shares were not sold at a uniform price. This information might be useful for investors looking to understand the range of values at which company stock is being traded by insiders.
For those looking to keep a closer eye on insider transactions at PROCEPT BioRobotics Corp, further details and updates can be expected in future filings and public disclosures.
InvestingPro Insights
As investors consider the implications of insider activity at PROCEPT BioRobotics Corp (NASDAQ:PRCT), it's important to examine the company's financial metrics and market performance for a broader context. According to InvestingPro data, PROCEPT BioRobotics has a market capitalization of $2.55 billion and has experienced substantial revenue growth over the last twelve months as of Q4 2023, with an increase of 81.55%. This surge in revenue is reflected in a quarterly growth figure of 83.29% for Q4 2023.
Despite the impressive revenue growth, the company is currently not profitable, as indicated by a negative P/E ratio of -21.89 and an adjusted P/E ratio for the last twelve months of -23.36. This aligns with one of the InvestingPro Tips suggesting that analysts do not anticipate the company will be profitable this year. Additionally, the company's Price / Book ratio stands at 8.81, which suggests a high valuation relative to the company's book value.
On the performance front, PROCEPT BioRobotics has provided strong returns to its investors with a 56.05% return over the past year and a 25.15% return over the last three months. This is in line with another InvestingPro Tip highlighting the company's high return over the last year. However, it's worth noting that the company does not pay a dividend, which may influence the investment strategy of income-focused shareholders.
For those interested in further analysis and additional InvestingPro Tips, you can find more in-depth information at InvestingPro. There are currently 11 additional tips listed for PROCEPT BioRobotics Corp, which can provide investors with a more comprehensive understanding of the company's financial position and market performance. Moreover, users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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