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 the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $1,025.00, for a total transaction of $512,500.00. Following the completion of the sale, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $2,865,900. 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) opened at 1022.37 on Thursday. The company has a market cap of $37.98 billion, a price-to-earnings ratio of 48.97 and a beta of 0.38. The stock has a 50 day moving average of $965.62 and a 200-day moving average of $871.33. Intuitive Surgical, Inc. has a one year low of $610.71 and a one year high of $1,029.00. Intuitive Surgical’s stock is set to split on Friday, October 6th. The 3-1 split was announced on Friday, August 11th. The newly created shares will be issued to shareholders after the market closes on Thursday, October 5th.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, July 20th. The medical equipment provider reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. Intuitive Surgical had a net margin of 28.44% and a return on equity of 15.99%. The business had revenue of $756.20 million for the quarter, compared to analysts’ expectations of $724.51 million. During the same quarter in the previous year, the business posted $1.87 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Intuitive Surgical, Inc. will post $23.92 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. ETF Managers Group LLC bought a new position in Intuitive Surgical during the second quarter valued at $110,000. D. Scott Neal Inc. bought a new position in Intuitive Surgical during the second quarter valued at $120,000. Harvest Fund Management Co. Ltd bought a new position in Intuitive Surgical during the second quarter valued at $120,000. Guardian Life Insurance Co. of America increased its position in Intuitive Surgical by 2.2% during 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 acquiring an additional 3 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Intuitive Surgical by 10.1% during the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock valued at $129,000 after acquiring an additional 14 shares during the last quarter. Institutional investors and hedge funds own 94.23% of the company’s stock.
Several research firms have recently issued reports on ISRG. Vetr raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $340.11 price target on the stock in a research report on Thursday, August 17th. Cantor Fitzgerald began coverage on shares of Intuitive Surgical in a research report on Thursday, June 29th. They issued a “neutral” rating and a $333.33 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $356.67 price target (up previously from $316.67) on shares of Intuitive Surgical in a research report on Tuesday, July 25th. Canaccord Genuity reaffirmed a “hold” rating and set a $333.33 target price (up previously from $290.00) on shares of Intuitive Surgical in a report on Wednesday, July 26th. Finally, Barclays PLC upped their target price on shares of Intuitive Surgical from $290.00 to $333.33 and gave the stock an “overweight” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $366.12.
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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