Intuitive Surgical (NASDAQ:ISRG) Reaches New 1-Year Low Following Insider Selling

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) reached a new 52-week low during trading on Monday following insider selling activity. The company traded as low as $423.33 and last traded at $423.3410, with a volume of 988863 shares traded. The stock had previously closed at $450.06.

Specifically, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was 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 directly owned 6,120 shares in the company, valued at approximately $2,735,334. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ISRG. HSBC lowered their price objective on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Argus lowered their price objective on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Leerink Partners lowered their price target on Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. BTIG Research reaffirmed a “buy” rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Finally, Evercore cut their price objective on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $581.91.

Intuitive Surgical Trading Up 0.1%

The stock has a market cap of $153.09 billion, a PE ratio of 52.40, a P/E/G ratio of 3.45 and a beta of 1.51. The company has a fifty day moving average of $466.62 and a 200-day moving average of $515.53.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. boosted its holdings in Intuitive Surgical by 300.0% in the fourth 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 period. Holos Integrated Wealth LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at $25,000. Olistico Wealth LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. raised its stake in Intuitive Surgical by 833.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 50 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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.