Insider Selling: Intuitive Surgical (NASDAQ:ISRG) EVP Sells 77 Shares of Stock

Key Points

• Intuitive Surgical EVP Mark Brosius sold 77 shares at an average price of $394.26, generating $30,358.02. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 6.92% to 1,035 shares.
• Intuitive Surgical shares rose 1.7% to $397.72, but remained below their 200-day moving average of $438.02 and well under the 52-week high of $603.88. The company recently reported quarterly EPS of $2.80 and revenue of $2.89 billion, exceeding estimates while revenue increased 18.4% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $508.68, despite several recent target reductions and one “Sell” rating. Institutional investors own approximately 83.64% of the company.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) EVP Mark Brosius sold 77 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $394.26, for a total value of $30,358.02. Following the completion of the sale, the executive vice president owned 1,035 shares in the company, valued at $408,059.10. The trade was a 6.92% decrease in their position. The sale 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.

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

• On Monday, August 17th, Mark Brosius sold 77 shares of Intuitive Surgical stock. The stock was sold at an average price of $390.67, for a total transaction of $30,081.59.
• On Friday, July 31st, Mark Brosius sold 28 shares of Intuitive Surgical stock. The shares were sold at an average price of $351.00, for a total value of $9,828.00.
• On Wednesday, July 29th, Mark Brosius sold 28 shares of Intuitive Surgical stock. The stock was sold at an average price of $360.21, for a total transaction of $10,085.88.
• On Monday, July 27th, Mark Brosius sold 28 shares of Intuitive Surgical stock. The shares were 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 transaction of $10,353.25.
• On Wednesday, June 10th, Mark Brosius sold 23 shares of Intuitive Surgical stock. The stock was sold at an average price of $424.14, for a total transaction 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 shares were sold at an average price of $439.80, for a total value of $7,916.40.

Intuitive Surgical Trading Up 1.7%

Intuitive Surgical stock traded up $6.54 during midday trading on Wednesday, hitting $397.72. 2,124,590 shares of the stock were exchanged, compared to its average volume of 2,465,721. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The stock has a market capitalization of $140.51 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 2.85 and a beta of 1.47. The stock's 50-day simple moving average is $389.89 and its 200 day simple moving average is $438.02.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its 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 company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The company's revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts anticipate that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ISRG. Evercore set a $430.00 price objective on Intuitive Surgical in a research report on Monday, July 6th. Robert W. Baird decreased their price target on shares of Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. BTIG Research lowered their price target on shares of Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating for the company in a report on Friday, July 17th. HSBC lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating and set a $391.00 price objective on the stock. in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a research note on Tuesday, June 2nd. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average price target of $508.68.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ISRG. Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth about $31,000. Turning Point Benefit Group Inc. lifted its holdings in shares of Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $34,000. Oakworth Capital Inc. grew its stake in Intuitive Surgical by 281.2% during the 4th quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider's stock worth $35,000 after buying an additional 45 shares during the last quarter. Finally, Main Street Group LTD purchased a new position in Intuitive Surgical during the 1st quarter worth approximately $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.

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