Vicarious Surgical Inc. (NYSE:RBOT) CEO Adam David Sachs has sold a portion of his holdings in the company, according to a recent regulatory filing. The transaction, which took place on March 20, involved the sale of 4,830 shares of Class A common stock at a weighted average price of $0.3422 per share, totaling approximately $1,652.
The sales were conducted to satisfy tax withholding obligations associated with the vesting of restricted stock units granted to Sachs on November 23, 2021. Following the transaction, Sachs remains a significant shareholder with a total of 1,730,220 shares of Vicarious Surgical Inc. still under his ownership.
Investors may note that the price range for the shares sold varied from $0.3329 to $0.3569. The CEO has committed to providing detailed information about the number of shares sold at each price point upon request by the Securities and Exchange Commission, Vicarious Surgical Inc., or any of its security holders.
The company, which is based in Waltham, Massachusetts, operates within the medical devices sector, specializing in orthopedic, prosthetic, and surgical appliances and supplies. Vicarious Surgical Inc. continues to focus on its mission within the industry, as Sachs adjusts his holdings in alignment with his financial and tax planning strategies.
InvestingPro Insights
As Vicarious Surgical Inc. (NYSE:RBOT) navigates the complexities of the medical devices sector, some key financial metrics and analyst insights from InvestingPro provide a deeper understanding of the company's current situation. With a market capitalization of $63.27 million, the company's financial health and stock performance are of particular interest to investors.
InvestingPro Data shows that RBOT has a negative P/E ratio of -0.92 for the last twelve months as of Q4 2023, indicating that the company is currently unprofitable. This aligns with the reality that the company's operating income is significantly in the red, with an adjusted figure of -$79.94 million for the same period. Furthermore, the stock has experienced a precipitous decline of -85.97% over the past year, reflecting investor concerns and market challenges.
In terms of liquidity, one of the InvestingPro Tips highlights that RBOT holds more cash than debt on its balance sheet, which can be a sign of financial stability. This is coupled with the fact that liquid assets exceed short-term obligations, suggesting that the company can cover its short-term liabilities. However, it's important to note that RBOT is quickly burning through cash and suffers from weak gross profit margins, which could impact its long-term sustainability.
Analysts have mixed views on RBOT's future, with some revising their earnings upwards for the upcoming period, while others do not anticipate the company will be profitable this year. The stock's valuation also implies a poor free cash flow yield, which may be a concern for value-oriented investors.
For those interested in further analysis and additional InvestingPro Tips for RBOT, there are 11 more tips available on the platform. These can provide valuable insights into the company's performance and future prospects. To access these tips and more detailed financial data, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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