Insider Selling: Intuitive Surgical (NASDAQ:ISRG) VP Sells $407,765.16 in Stock

Intuitive Surgical, Inc. (NASDAQ:ISRG) VP Fredrik Widman sold 1,089 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $374.44, for a total value of $407,765.16. Following the transaction, the vice president owned 1,026 shares of the company’s stock, valued at $384,175.44. The trade was a 51.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded up $6.47 on Wednesday, reaching $383.63. 1,138,285 shares of the company’s stock were exchanged, compared to its average volume of 2,438,278. The firm has a market cap of $135.53 billion, a price-to-earnings ratio of 43.94, a P/E/G ratio of 2.85 and a beta of 1.47. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock has a fifty day simple moving average of $374.17 and a 200-day simple moving average of $421.61.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the firm earned $1.81 EPS. Intuitive Surgical’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, sell-side analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Cowen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. BNP Paribas Exane raised Intuitive Surgical to an “outperform” rating in a report on Tuesday, July 28th. Citigroup dropped their price target on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Robert W. Baird cut their price objective on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Finally, Truist Financial lowered their target price on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Twenty-two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $508.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Anchor Investment Management LLC raised its stake in Intuitive Surgical by 12.3% during the 2nd quarter. Anchor Investment Management LLC now owns 7,408 shares of the medical equipment provider’s stock worth $2,946,000 after buying an additional 809 shares during the period. ABS Direct Equity Fund LLC grew its stake in Intuitive Surgical by 120.8% in the second quarter. ABS Direct Equity Fund LLC now owns 795 shares of the medical equipment provider’s stock valued at $316,000 after acquiring an additional 435 shares during the period. Rench Wealth Management Inc. grew its stake in Intuitive Surgical by 2.0% in the second quarter. Rench Wealth Management Inc. now owns 15,743 shares of the medical equipment provider’s stock valued at $6,261,000 after acquiring an additional 311 shares during the period. IPG Investment Advisors LLC bought a new stake in shares of Intuitive Surgical in the second quarter worth about $218,000. Finally, National Pension Service increased its holdings in shares of Intuitive Surgical by 3.1% in the second quarter. National Pension Service now owns 749,814 shares of the medical equipment provider’s stock worth $298,186,000 after acquiring an additional 22,372 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company’s principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.