Key Points
- EVP Gary Loeb sold 400 shares of Intuitive Surgical at an average price of $446.95, totaling $178,780, under a pre-arranged Rule 10b5-1 trading plan. After the sale, he still held 6,120 shares valued at about $2.74 million.
- ISRG stock was down 6.7% and opened Tuesday at $420.06, near its 1-year low of $417.74. The company’s shares were also below both the 50-day and 200-day moving averages.
- Despite the stock weakness, Intuitive Surgical recently reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.77 billion topping forecasts. Revenue rose 23% year over year, and analysts currently have a Moderate Buy consensus with an average price target of $581.91.
Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) EVP Gary Loeb sold 400 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the transaction, the executive vice president directly owned 6,120 shares of the company's stock, valued at approximately $2,735,334. This represents a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Intuitive Surgical Trading Down 6.7%
Intuitive Surgical stock opened at $420.06 on Tuesday. Intuitive Surgical, Inc. has a 1-year low of $417.74 and a 1-year high of $603.88. The firm has a market capitalization of $148.77 billion, a PE ratio of 50.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.51. The firm's 50 day simple moving average is $469.33 and its 200 day simple moving average is $517.03.
Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 EPS. Research analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in Intuitive Surgical in the 3rd quarter worth $27,000. Olistico Wealth LLC bought a new stake in Intuitive Surgical in the fourth quarter worth $28,000. Finally, Caitlin John LLC bought a new stake in Intuitive Surgical in the third quarter worth $30,000. 83.64% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on ISRG. Piper Sandler lowered their price target on Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Evercore cut their price objective on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a report on Monday, April 6th. JPMorgan Chase & Co. decreased their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Leerink Partners dropped their target price on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. Finally, Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target for the company in a research note on Wednesday, March 11th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average price target of $581.91.
Read Our Latest Research Report on Intuitive Surgical
Intuitive Surgical Company Profile
(
Get Free Report)
Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.
In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.
Further Reading
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