Intuitive Surgical (ISRG) Trading Down 6.7% After Insider Selling

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) fell 6.7% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $369.09 and last traded at $369.95. 2,158,800 shares were traded during mid-day trading, an increase of 123% from the average session volume of 970,225 shares. The stock had previously closed at $396.66.

Specifically, SVP Curet Myriam sold 262 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $373.00, for a total value of $97,726.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Salvatore Brogna sold 6,082 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $397.61, for a total transaction of $2,418,264.02. Following the completion of the sale, the chief operating officer now owns 3,096 shares of the company’s stock, valued at approximately $1,231,000.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,944 shares of company stock valued at $21,432,971 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

ISRG has been the subject of several research reports. Vetr cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $111.83 price objective for the company. in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating and issued a $333.33 price objective on shares of Intuitive Surgical in a research report on Friday, September 1st. Morgan Stanley restated an “overweight” rating on shares of Intuitive Surgical in a research report on Tuesday, September 5th. Finally, Wedbush restated an “outperform” rating and issued a $353.33 price objective on shares of Intuitive Surgical in a research report on Monday, September 25th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Intuitive Surgical presently has a consensus rating of “Buy” and an average target price of $155.78.

The stock has a market cap of $44,444.88, a PE ratio of 52.49, a P/E/G ratio of 5.51 and a beta of 0.48.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 EPS for the quarter, topping the consensus estimate of $1.99 by $0.78. Intuitive Surgical had a net margin of 30.16% and a return on equity of 18.20%. The company had revenue of $806.10 million during the quarter, compared to analysts’ expectations of $753.25 million. During the same quarter in the previous year, the company earned $2.06 EPS. Intuitive Surgical’s revenue was up 18.0% on a year-over-year basis. research analysts forecast that Intuitive Surgical, Inc. will post 7.85 EPS for the current year.

Several large investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in Intuitive Surgical by 230.4% during the 2nd quarter. Bessemer Group Inc. now owns 760 shares of the medical equipment provider’s stock worth $711,000 after acquiring an additional 530 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Intuitive Surgical by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 17,863 shares of the medical equipment provider’s stock worth $16,709,000 after acquiring an additional 111 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in Intuitive Surgical by 2.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 228,166 shares of the medical equipment provider’s stock worth $208,698,000 after acquiring an additional 4,452 shares during the last quarter. Advisor Partners LLC boosted its stake in Intuitive Surgical by 10.9% during the 2nd quarter. Advisor Partners LLC now owns 682 shares of the medical equipment provider’s stock worth $638,000 after acquiring an additional 67 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in Intuitive Surgical by 211.6% during the 2nd quarter. Global X Management Co. LLC now owns 15,962 shares of the medical equipment provider’s stock worth $14,930,000 after acquiring an additional 10,839 shares during the last quarter. Institutional investors own 32.81% of the company’s stock.

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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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