Intuitive Surgical (ISRG) Shares Down 6.7% After Insider Selling

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) fell 6.7% during trading on Tuesday following insider selling activity. The stock traded as low as $369.09 and last traded at $369.95. 2,158,800 shares traded hands during mid-day trading, an increase of 123% from the average session volume of 970,225 shares. The stock had previously closed at $396.66.

Specifically, insider Craig H. Barratt sold 15,000 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $371.18, for a total transaction of $5,567,700.00. Following the completion of the sale, the insider now owns 7,500 shares of the company’s stock, valued at $2,783,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan J. Levy sold 2,997 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $371.35, for a total transaction of $1,112,935.95. The disclosure for this sale can be found here. Insiders have sold 55,944 shares of company stock valued at $21,432,971 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Several analysts have recently weighed in on ISRG shares. Wedbush reaffirmed a “buy” rating on shares of Intuitive Surgical in a research note on Tuesday, October 10th. Barclays reaffirmed an “overweight” rating on shares of Intuitive Surgical in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Vetr raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $113.59 price target for the company in a research note on Monday, August 28th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $333.33 price target on shares of Intuitive Surgical in a research note on Friday, September 1st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $155.78.

The stock has a market capitalization of $41,452.09, a PE ratio of 48.96, a PEG ratio of 5.14 and a beta of 0.48.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.78. The business had revenue of $806.10 million for the quarter, compared to the consensus estimate of $753.25 million. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 earnings per share. research analysts expect that Intuitive Surgical, Inc. will post 7.85 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Edgewood Management LLC grew its holdings in shares of Intuitive Surgical by 200.7% during the third quarter. Edgewood Management LLC now owns 2,898,113 shares of the medical equipment provider’s stock valued at $1,010,359,000 after buying an additional 1,934,382 shares during the last quarter. FMR LLC grew its holdings in shares of Intuitive Surgical by 19.6% during the second quarter. FMR LLC now owns 2,724,964 shares of the medical equipment provider’s stock valued at $2,548,849,000 after buying an additional 447,397 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Intuitive Surgical by 0.8% during the second quarter. Vanguard Group Inc. now owns 2,524,027 shares of the medical equipment provider’s stock valued at $2,360,900,000 after buying an additional 20,210 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of Intuitive Surgical by 202,917.0% during the second quarter. Koch Industries Inc. now owns 1,388,636 shares of the medical equipment provider’s stock valued at $1,387,000 after buying an additional 1,387,952 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Intuitive Surgical by 3.3% during the second quarter. Alliancebernstein L.P. now owns 690,780 shares of the medical equipment provider’s stock valued at $646,135,000 after buying an additional 21,795 shares during the last quarter. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

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Intuitive Surgical Company Profile

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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