Investors Sell Shares of Intuitive Surgical Inc. (ISRG) on Strength Following Insider Selling
Traders sold shares of Intuitive Surgical Inc. (NASDAQ:ISRG) on strength during trading on Friday following insider selling activity. $35.42 million flowed into the stock on the tick-up and $63.93 million flowed out of the stock on the tick-down, for a money net flow of $28.51 million out of the stock. Of all equities tracked, Intuitive Surgical had the 0th highest net out-flow for the day. Intuitive Surgical traded up $0.29 for the day and closed at $654.89Specifically, CEO Gary S. Guthart sold 13,515 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $680.68, for a total transaction of $9,199,390.20. Following the completion of the sale, the chief executive officer now owns 82,880 shares in the company, valued at approximately $56,414,758.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark J. Meltzer sold 3,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $688.33, for a total transaction of $2,064,990.00. Following the sale, the senior vice president now owns 2,331 shares of the company’s stock, valued at approximately $1,604,497.23. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several brokerages have commented on ISRG. Barclays PLC reiterated an “overweight” rating and set a $760.00 target price (up previously from $750.00) on shares of Intuitive Surgical in a research report on Friday, October 21st. Zacks Investment Research raised shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating and set a $784.00 price target for the company in a report on Thursday, October 20th. Canaccord Genuity boosted their price target on shares of Intuitive Surgical from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 19th. Wedbush reissued an “outperform” rating and issued a $755.00 price target (down previously from $785.00) on shares of Intuitive Surgical in a report on Wednesday, October 19th. Finally, RBC Capital Markets set a $760.00 price target on shares of Intuitive Surgical and gave the company a “hold” rating in a report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $729.50.
The stock has a market cap of $25.38 billion, a P/E ratio of 35.32 and a beta of 0.55. The stock’s 50 day moving average price is $683.04 and its 200 day moving average price is $671.62.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $6.19 earnings per share for the quarter, beating the consensus estimate of $5.13 by $1.06. Intuitive Surgical had a net margin of 27.51% and a return on equity of 15.02%. The firm earned $682.90 million during the quarter, compared to the consensus estimate of $650.49 million. During the same period in the previous year, the firm posted $5.24 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Equities analysts predict that Intuitive Surgical Inc. will post $22.19 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Intuitive Surgical by 15.5% in the second quarter. FMR LLC now owns 2,190,718 shares of the company’s stock valued at $1,448,962,000 after buying an additional 294,511 shares during the period. JPMorgan Chase & Co. increased its stake in Intuitive Surgical by 87.7% in the second quarter. JPMorgan Chase & Co. now owns 619,160 shares of the company’s stock valued at $409,519,000 after buying an additional 289,330 shares during the period. BlackRock Fund Advisors increased its stake in Intuitive Surgical by 24.3% in the second quarter. BlackRock Fund Advisors now owns 831,970 shares of the company’s stock valued at $550,273,000 after buying an additional 162,789 shares during the period. Eaton Vance Management increased its stake in Intuitive Surgical by 299.4% in the second quarter. Eaton Vance Management now owns 146,206 shares of the company’s stock valued at $96,702,000 after buying an additional 109,600 shares during the period. Finally, Vanguard Group Inc. increased its stake in Intuitive Surgical by 3.4% in the second quarter. Vanguard Group Inc. now owns 2,326,605 shares of the company’s stock valued at $1,538,841,000 after buying an additional 77,521 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.
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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