Intuitive Surgical (NASDAQ:ISRG) VP Fredrik Widman Sells 1,089 Shares

Key Points

• Intuitive Surgical VP Fredrik Widman sold 1,089 shares for approximately $407,765 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 51.49% to 1,026 shares.
• The stock recently traded at $383.63, while the company reported quarterly earnings and revenue above analyst expectations; revenue rose 18.4% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $508.68, and institutional investors own 83.64% of the company’s shares.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) VP Fredrik Widman sold 1,089 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $374.44, for a total value of $407,765.16. Following the completion of the sale, the vice president owned 1,026 shares of the company's stock, valued at approximately $384,175.44. This trade represents a 51.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Intuitive Surgical Price Performance

Intuitive Surgical stock traded up $6.47 during mid-day trading on Wednesday, reaching $383.63. 1,138,285 shares of the company were exchanged, compared to its average volume of 2,438,278. The firm has a market cap of $135.53 billion, a PE ratio of 43.94, a PEG ratio of 2.85 and a beta of 1.47. The company has a fifty day simple moving average of $374.17 and a 200-day simple moving average of $421.61. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

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

Institutional Investors Weigh In On Intuitive Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in Intuitive Surgical by 1.0% in the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock valued at $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors boosted its stake in Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after acquiring an additional 127,526 shares during the last quarter. Norges Bank purchased a new position in Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. grew its position in shares of Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock valued at $2,338,350,000 after acquiring an additional 611,268 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Intuitive Surgical by 3.3% during the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider's stock worth $1,667,388,000 after purchasing an additional 116,292 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ISRG. Evercore set a $430.00 target price on shares of Intuitive Surgical in a research report on Monday, July 6th. Bank of America reduced their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Wells Fargo & Company reiterated an "overweight" rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a report on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday. Twenty-two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $508.68.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company's principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.

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