Intuitive Surgical (NASDAQ:ISRG) EVP Gary Loeb Sells 400 Shares

Intuitive Surgical, Inc. (NASDAQ:ISRG) EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares of the company’s stock, valued at $2,735,334. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $420.06 on Tuesday. The stock has a market capitalization of $148.77 billion, a price-to-earnings ratio of 50.92, a PEG ratio of 3.59 and a beta of 1.51. Intuitive Surgical, Inc. has a one year low of $417.74 and a one year high of $603.88. The business’s fifty day moving average is $469.33 and its 200-day moving average is $517.03.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Intuitive Surgical by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 166,908 shares of the medical equipment provider’s stock worth $76,943,000 after acquiring an additional 6,231 shares during the period. Oslo Pensjonsforsikring AS bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $300,000. Andra AP fonden raised its stake in shares of Intuitive Surgical by 139.7% during the 1st quarter. Andra AP fonden now owns 50,050 shares of the medical equipment provider’s stock valued at $23,073,000 after purchasing an additional 29,168 shares during the period. Wilkerson Advisory Group LLC lifted its holdings in Intuitive Surgical by 1,117.1% during the 1st quarter. Wilkerson Advisory Group LLC now owns 426 shares of the medical equipment provider’s stock worth $196,000 after purchasing an additional 391 shares in the last quarter. Finally, Glenview Trust Co lifted its holdings in Intuitive Surgical by 5.6% during the 1st quarter. Glenview Trust Co now owns 123,234 shares of the medical equipment provider’s stock worth $56,810,000 after purchasing an additional 6,572 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ISRG has been the subject of a number of research reports. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. TD Cowen reduced their price objective on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Truist Financial decreased their target price on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Piper Sandler lowered their target price on Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $581.91.

About Intuitive Surgical

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.