Intuitive Surgical (NASDAQ:ISRG) Stock Price Down 2.8% Following Insider Selling

Intuitive Surgical, Inc. (NASDAQ:ISRG) dropped 2.8% during mid-day trading on Friday following insider selling activity. The company traded as low as $548.92 and last traded at $549.51. Approximately 1,878,370 shares were traded during trading, a decline of 12% from the average daily volume of 2,123,071 shares. The stock had previously closed at $565.51.

Specifically, Director Craig H. Barratt sold 750 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $7,963,980.00. Following the sale, the executive vice president directly owned 3,056 shares of the company’s stock, valued at $1,772,480. The trade was a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Intuitive Surgical news, EVP Brian Edward Miller sold 3,500 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $575.00, for a total value of $2,012,500.00. Following the transaction, the executive vice president directly owned 5,758 shares in the company, valued at $3,310,850. The trade was a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Intuitive Surgical from $599.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Erste Group Bank reissued a “hold” rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Intuitive Surgical from $567.00 to $621.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, UBS Group set a $600.00 price target on shares of Intuitive Surgical and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $608.92.

Intuitive Surgical Price Performance

The stock has a market cap of $196.99 billion, a P/E ratio of 72.69, a PEG ratio of 4.94 and a beta of 1.62. The firm’s fifty day moving average price is $480.86 and its two-hundred day moving average price is $502.93.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company earned $1.84 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors have recently made changes to their positions in ISRG. Tobam increased its stake in Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC purchased a new position in shares of Intuitive Surgical during the 2nd quarter valued at about $27,000. Greykasell Wealth Strategies Inc. bought a new stake in Intuitive Surgical in the 3rd quarter worth approximately $27,000. TD Capital Management LLC lifted its position in Intuitive Surgical by 300.0% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 45 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in Intuitive Surgical in the first quarter worth approximately $30,000. Institutional investors own 83.64% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.