Insider Selling: Intuitive Surgical (NASDAQ:ISRG) EVP Sells $10,085.88 in Stock

Intuitive Surgical, Inc. (NASDAQ:ISRG) EVP Mark Brosius sold 28 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $360.21, for a total value of $10,085.88. Following the transaction, the executive vice president owned 1,294 shares in the company, valued at $466,111.74. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Brosius also recently made the following trade(s):

• On Friday, July 31st, Mark Brosius sold 28 shares of Intuitive Surgical stock. The stock was sold at an average price of $351.00, for a total value of $9,828.00.
• On Monday, July 27th, Mark Brosius sold 28 shares of Intuitive Surgical stock. The stock was sold at an average price of $344.00, for a total value of $9,632.00.
• On Friday, June 12th, Mark Brosius sold 25 shares of Intuitive Surgical stock. The stock was sold at an average price of $414.13, for a total value of $10,353.25.
• On Wednesday, June 10th, Mark Brosius sold 23 shares of Intuitive Surgical stock. The shares were sold at an average price of $424.14, for a total value of $9,755.22.
• On Monday, June 8th, Mark Brosius sold 23 shares of Intuitive Surgical stock. The shares were sold at an average price of $420.12, for a total value of $9,662.76.
• On Friday, May 22nd, Mark Brosius sold 18 shares of Intuitive Surgical stock. The stock was sold at an average price of $439.80, for a total transaction of $7,916.40.
• On Wednesday, May 20th, Mark Brosius sold 18 shares of Intuitive Surgical stock. The stock was sold at an average price of $440.38, for a total transaction of $7,926.84.
• On Monday, May 18th, Mark Brosius sold 18 shares of Intuitive Surgical stock. The stock was sold at an average price of $422.47, for a total transaction of $7,604.46.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $353.33 on Friday. The company has a market capitalization of $124.82 billion, a price-to-earnings ratio of 40.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46. The company’s 50-day simple moving average is $398.27 and its two-hundred day simple moving average is $451.98. Intuitive Surgical, Inc. has a one year low of $328.57 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts expect that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Bank of America dropped their target price on Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. JPMorgan Chase & Co. cut their price target on Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. BTIG Research reduced their price target on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Finally, Raymond James Financial restated an “outperform” rating and set a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Twenty analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $509.02.

Intuitive Surgical News Roundup

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
• Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
• Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
• Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
• Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
• Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
• Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISRG. Prosperity Consulting Group LLC boosted its stake in shares of Intuitive Surgical by 0.5% during the 3rd quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after acquiring an additional 19 shares in the last quarter. Sunburst Financial Group LLC increased its stake in shares of Intuitive Surgical by 4.3% in the 4th quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock valued at $275,000 after purchasing an additional 20 shares in the last quarter. WoodTrust Financial Corp increased its stake in shares of Intuitive Surgical by 0.5% in the 4th quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock valued at $2,367,000 after purchasing an additional 20 shares in the last quarter. North Star Investment Management Corp. raised its holdings in Intuitive Surgical by 8.5% in the 4th quarter. North Star Investment Management Corp. now owns 269 shares of the medical equipment provider’s stock worth $152,000 after purchasing an additional 21 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in Intuitive Surgical by 11.5% during the fourth quarter. Cornerstone Planning Group LLC now owns 203 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

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.