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

Key Points

• Intuitive Surgical EVP Gary Loeb sold 400 shares for $183,260 at an average price of $458.15 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 6.03% to 6,236 shares.
• The company beat quarterly expectations, reporting EPS of $3.00 versus $2.65 forecast and revenue of $3.05 billion versus $2.91 billion; revenue rose 21.7% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $493.54.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) EVP Gary Loeb sold 400 shares of the business's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $458.15, for a total value of $183,260.00. Following the completion of the transaction, the executive vice president owned 6,236 shares of the company's stock, valued at $2,857,023.40. This represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $449.53 on Thursday. Intuitive Surgical, Inc. has a one year low of $328.57 and a one year high of $603.88. The business's fifty day moving average is $414.76 and its 200 day moving average is $430.83. The stock has a market capitalization of $155.83 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 3.10 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The business had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $2.91 billion. During the same quarter in the prior year, the business earned $2.40 EPS. The business's revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ISRG. Bank of America Corp DE lifted its position in shares of Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider's stock valued at $1,667,388,000 after acquiring an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Intuitive Surgical during the 2nd quarter valued at approximately $1,335,753,000. Amundi raised its stake in Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider's stock valued at $1,119,448,000 after purchasing an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock worth $970,635,000 after purchasing an additional 1,027,475 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Intuitive Surgical by 10.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider's stock worth $769,948,000 after purchasing an additional 184,044 shares during the period. Institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the topic of several research analyst reports. Leerink Partners set a $503.00 price target on Intuitive Surgical and gave the company an "outperform" rating in a report on Wednesday, October 21st. KeyCorp reissued an "overweight" rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. Mizuho dropped their target price on Intuitive Surgical from $415.00 to $400.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 21st. UBS Group restated a "buy" rating on shares of Intuitive Surgical in a research note on Tuesday, October 13th. Finally, Stifel Nicolaus reduced their price target on shares of Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $493.54.

About Intuitive Surgical

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.

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