Intuitive Surgical (NASDAQ:ISRG) Trading Down 2.8% on Insider Selling

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s stock price dropped 2.8% during trading on Friday after an insider sold shares in the company. The company traded as low as $548.92 and last traded at $549.51. Approximately 1,878,370 shares traded hands during trading, a decline of 12% from the average daily volume of 2,123,071 shares. The stock had previously closed at $565.51.

Specifically, Director Craig H. Barratt sold 750 shares of Intuitive Surgical stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $435,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Henry L. Charlton sold 13,731 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the transaction, the executive vice president owned 3,056 shares of the company’s stock, valued at approximately $1,772,480. This represents a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Intuitive Surgical news, EVP Brian Edward Miller sold 3,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $575.00, for a total value of $2,012,500.00. Following the completion of the transaction, the executive vice president owned 5,758 shares of the company’s stock, valued at $3,310,850. This represents a 37.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

ISRG has been the topic of several research reports. The Goldman Sachs Group boosted their price target on Intuitive Surgical from $567.00 to $621.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Daiwa Capital Markets boosted their target price on shares of Intuitive Surgical from $510.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Argus upped their price target on shares of Intuitive Surgical from $600.00 to $630.00 in a research report on Monday, October 27th. Jefferies Financial Group lifted their price target on shares of Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $608.92.

Intuitive Surgical Stock Performance

The company has a market cap of $196.99 billion, a P/E ratio of 72.69, a price-to-earnings-growth ratio of 4.94 and a beta of 1.62. The firm’s 50 day moving average price is $480.86 and its two-hundred day moving average price is $502.93.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds have recently added to or reduced their stakes in the company. Tobam raised its holdings in Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 40 shares during the last quarter. Kilter Group LLC purchased a new stake in shares of Intuitive Surgical in the second quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Intuitive Surgical during the third quarter valued at approximately $27,000. TD Capital Management LLC grew its holdings in Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 45 shares in the last quarter. Finally, 1248 Management LLC purchased a new stake in Intuitive Surgical in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.