Intuitive Surgical (ISRG) Stock Price Down 6.7% After Insider Selling

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) were down 6.7% on Tuesday after an insider sold shares in the company. The stock traded as low as $369.09 and last traded at $369.95. Approximately 2,158,800 shares changed hands during trading, an increase of 123% from the average daily volume of 970,225 shares. The stock had previously closed at $396.66.

Specifically, SVP Curet Myriam sold 262 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $373.00, for a total value of $97,726.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan J. Levy sold 2,997 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $371.35, for a total value of $1,112,935.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,944 shares of company stock worth $21,432,971. Insiders own 2.20% of the company’s stock.

Several analysts have recently issued reports on ISRG shares. Wells Fargo & Company reiterated a “buy” rating on shares of Intuitive Surgical in a research note on Monday, October 16th. Wedbush restated a “buy” rating on shares of Intuitive Surgical in a research note on Tuesday, October 10th. Vetr upgraded Intuitive Surgical from a “hold” rating to a “buy” rating and set a $113.59 price target on the stock in a research note on Monday, August 28th. BidaskClub upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research upgraded Intuitive Surgical from a “hold” rating to a “buy” rating and set a $418.00 price target on the stock in a research note on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Intuitive Surgical presently has an average rating of “Buy” and an average target price of $155.78.

The stock has a market capitalization of $44,444.88, a P/E ratio of 52.49, a price-to-earnings-growth ratio of 5.51 and a beta of 0.48.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.78. The company had revenue of $806.10 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.06 earnings per share. sell-side analysts predict that Intuitive Surgical, Inc. will post 7.85 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Stifel Financial Corp grew its holdings in shares of Intuitive Surgical by 11.2% during the second quarter. Stifel Financial Corp now owns 8,356 shares of the medical equipment provider’s stock worth $7,837,000 after purchasing an additional 841 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Intuitive Surgical by 26.7% during the second quarter. Keybank National Association OH now owns 1,322 shares of the medical equipment provider’s stock worth $1,237,000 after purchasing an additional 279 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Intuitive Surgical by 61.4% during the third quarter. First Trust Advisors LP now owns 51,130 shares of the medical equipment provider’s stock worth $53,476,000 after purchasing an additional 19,458 shares during the last quarter. Davis R M Inc. purchased a new position in shares of Intuitive Surgical during the third quarter worth about $219,000. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Intuitive Surgical by 9.8% during the second quarter. TIAA CREF Investment Management LLC now owns 449,917 shares of the medical equipment provider’s stock worth $420,839,000 after purchasing an additional 40,115 shares during the last quarter. 32.81% of the stock is currently owned by institutional investors.

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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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