Traders Sell Intuitive Surgical, Inc. (ISRG) on Strength on Insider Selling
Traders sold shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) on strength during trading on Tuesday following insider selling activity. $70.53 million flowed into the stock on the tick-up and $103.69 million flowed out of the stock on the tick-down, for a money net flow of $33.16 million out of the stock. Of all stocks tracked, Intuitive Surgical had the 29th highest net out-flow for the day. Intuitive Surgical traded up $13.90 for the day and closed at $996.60Specifically, CEO Gary S. Guthart sold 17,975 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $937.27, for a total value of $16,847,428.25. Following the completion of the transaction, the chief executive officer now owns 101,798 shares of the company’s stock, valued at approximately $95,412,211.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark J. Meltzer sold 3,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $887.09, for a total transaction of $2,661,270.00. Following the completion of the transaction, the senior vice president now directly owns 3,046 shares of the company’s stock, valued at approximately $2,702,076.14. The disclosure for this sale can be found here. Insiders sold a total of 34,565 shares of company stock valued at $32,150,540 in the last three months. 2.50% of the stock is currently owned by corporate insiders.
ISRG has been the subject of several recent analyst reports. Vetr cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $1,006.51 price target for the company. in a report on Wednesday, August 16th. BidaskClub cut Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC lifted their price target on Intuitive Surgical from $870.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Canaccord Genuity restated a “hold” rating and issued a $870.00 price target on shares of Intuitive Surgical in a report on Tuesday, July 11th. Finally, Zacks Investment Research cut Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $980.61.
The stock has a 50 day moving average price of $948.04 and a 200 day moving average price of $848.40. The stock has a market capitalization of $37.02 billion, a price-to-earnings ratio of 47.73 and a beta of 0.39. Intuitive Surgical’s stock is going to split on the morning of Thursday, August 31st. The 3-1 split was announced on Friday, August 11th. The newly issued shares will be payable to shareholders after the market closes on Wednesday, August 30th.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, July 20th. The medical equipment provider reported $5.95 EPS for the quarter, beating the Zacks’ consensus estimate of $5.79 by $0.16. The business had revenue of $756.20 million for the quarter, compared to analyst estimates of $724.51 million. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.62 EPS. On average, equities analysts expect that Intuitive Surgical, Inc. will post $23.92 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Intuitive Surgical by 2,770.9% in the first quarter. BlackRock Inc. now owns 2,846,621 shares of the medical equipment provider’s stock worth $2,181,851,000 after buying an additional 2,747,465 shares during the period. Koch Industries Inc. raised its stake in Intuitive Surgical by 202,917.0% in the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock worth $1,387,000 after buying an additional 1,387,952 shares during the period. FMR LLC raised its stake in Intuitive Surgical by 19.6% in the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock worth $2,548,849,000 after buying an additional 447,397 shares during the period. Janus Henderson Group PLC raised its stake in Intuitive Surgical by 7,931.4% in the second quarter. Janus Henderson Group PLC now owns 412,170 shares of the medical equipment provider’s stock worth $385,532,000 after buying an additional 407,038 shares during the period. Finally, Edgewood Management LLC raised its stake in Intuitive Surgical by 38.8% in the first quarter. Edgewood Management LLC now owns 919,617 shares of the medical equipment provider’s stock worth $704,859,000 after buying an additional 257,165 shares during the period. 96.08% of the stock is currently owned by institutional investors and hedge funds.
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About Intuitive Surgical
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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