Mark J. Meltzer Sells 500 Shares of Intuitive Surgical, Inc. (ISRG) Stock
Intuitive Surgical, Inc. (NASDAQ:ISRG) SVP Mark J. Meltzer sold 500 shares of Intuitive Surgical stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $982.90, for a total value of $491,450.00. Following the completion of the sale, the senior vice president now owns 2,796 shares in the company, valued at approximately $2,748,188.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Intuitive Surgical, Inc. (NASDAQ:ISRG) traded up 1.41% on Tuesday, reaching $996.60. The company had a trading volume of 317,238 shares. Intuitive Surgical, Inc. has a 12 month low of $610.71 and a 12 month high of $998.00. The stock has a market capitalization of $37.02 billion, a P/E ratio of 47.73 and a beta of 0.39. The firm has a 50-day moving average of $948.04 and a 200-day moving average of $848.40. Shares of Intuitive Surgical are scheduled to split on the morning of Thursday, August 31st. The 3-1 split was announced on Friday, August 11th. The newly created shares will be distributed to shareholders after the market closes on Wednesday, August 30th.
Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, July 20th. The medical equipment provider reported $5.95 earnings per share for the quarter, beating the consensus estimate of $5.79 by $0.16. The company had revenue of $756.20 million during the quarter, compared to the consensus estimate of $724.51 million. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $5.62 earnings per share. On average, equities research analysts expect that Intuitive Surgical, Inc. will post $23.92 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on the company. Morgan Stanley set a $950.00 price objective on Intuitive Surgical and gave the company an “overweight” rating in a report on Monday, May 22nd. Wells Fargo & Company reiterated an “outperform” rating and issued a $1,050.00 price objective (up previously from $1,000.00) on shares of Intuitive Surgical in a report on Wednesday, July 12th. Citigroup Inc. reiterated a “buy” rating and issued a $1,078.00 price objective (up previously from $917.00) on shares of Intuitive Surgical in a report on Monday, July 24th. Cantor Fitzgerald assumed coverage on Intuitive Surgical in a report on Thursday, June 29th. They issued a “neutral” rating and a $1,000.00 price objective on the stock. Finally, Zacks Investment Research downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $980.61.
Several hedge funds have recently made changes to their positions in ISRG. Guardian Life Insurance Co. of America increased its stake in shares of Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 3 shares in the last quarter. ETF Managers Group LLC purchased a new position in Intuitive Surgical during the second quarter worth approximately $110,000. D. Scott Neal Inc. purchased a new position in Intuitive Surgical during the second quarter worth approximately $120,000. Harvest Fund Management Co. Ltd purchased a new position in Intuitive Surgical during the second quarter worth approximately $120,000. Finally, Parallel Advisors LLC increased its position in Intuitive Surgical by 10.1% in the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 14 shares during the period. Institutional investors own 96.08% of the company’s stock.
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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