Kevin Waters, Executive Vice President and Chief Financial Officer of PROCEPT BioRobotics Corp (NASDAQ: PRCT), completed a sale of 706 common shares on March 17, 2026. The shares were sold at $28.1532 apiece, producing proceeds of $19,876. Following the sale, Waters' direct ownership stands at 151,558 shares.
The company indicated the disposition was performed to cover tax withholding obligations arising from the vesting of restricted stock units. No further personal commentary was reported in connection with the transaction.
PRCT's shares have struggled over the trailing year, declining 54.72%. Despite that performance, InvestingPro analysis noted the company appears undervalued at current levels. InvestingPro Tips additionally point to a balance-sheet position in which PROCEPT holds more cash than debt and maintains liquid assets that exceed short-term obligations. Investors interested in deeper company analysis can consult the Pro Research Report, which is available for PRCT and more than 1,400 U.S. equities through the InvestingPro service.
On the commercial front, PROCEPT recently introduced its HYDROS Robotic System in the United Kingdom and has signaled plans for further international expansion during 2026. The HYDROS system is intended to deliver Aquablation therapy to treat benign prostatic hyperplasia, using ultrasound imaging interpreted by artificial intelligence to guide precise procedures.
Market coverage of the company has been active. Baird initiated coverage on PROCEPT BioRobotics with a Neutral rating and a $30 price target. Truist Securities adjusted its target for PROCEPT to $30 from $47 and maintained a Buy rating despite lowering its 2027 forecasts; Truist's revised target reflects a valuation based on 3x EV/Sales and includes a discount relative to peers. TD Cowen reiterated its Buy rating and set a $34 price target, citing confidence in the company's recent commercial changes.
Corporate governance developments include the appointment of Daniel Puckett to PROCEPT's board of directors, where he will serve as a director and a member of the audit committee. The company has not disclosed further board-related details in the transaction filings associated with the insider sale.
Collectively, the insider sale to meet tax obligations, the balance-sheet commentary from InvestingPro, new international commercialization steps for the HYDROS system, and varied analyst assessments underscore a period of strategic activity and market scrutiny for PROCEPT BioRobotics.