Insider Selling: Intuitive Surgical (NASDAQ:ISRG) Insider Sells 29,360 Shares of Stock

Key Points

• Insider Gary Guthart sold 29,360 shares of Intuitive Surgical stock at an average price of $472.49, resulting in a total transaction value of over $13.87 million.
• Intuitive Surgical reported earnings of $2.19 EPS for the last quarter, surpassing analysts' expectations and achieving a revenue of $2.44 billion, representing a year-over-year increase of 21.4%.
• Hedge funds and institutional investors own 83.64% of Intuitive Surgical's stock, with significant new investments occurring in the second quarter.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) insider Gary Guthart sold 29,360 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Intuitive Surgical Price Performance

ISRG stock traded down $4.23 during trading on Tuesday, hitting $469.07. 2,229,121 shares of the stock traded hands, compared to its average volume of 1,990,367. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The firm's 50 day moving average is $499.62 and its two-hundred day moving average is $516.13. The stock has a market cap of $168.15 billion, a price-to-earnings ratio of 65.42, a price-to-earnings-growth ratio of 4.96 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.78 EPS. The company's quarterly revenue was up 21.4% compared to the same quarter last year. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Intuitive Surgical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Total Investment Management Inc. acquired a new stake in Intuitive Surgical in the 2nd quarter valued at $82,000. Lavaca Capital LLC raised its stake in Intuitive Surgical by 2.3% during the second quarter. Lavaca Capital LLC now owns 4,423 shares of the medical equipment provider's stock worth $2,404,000 after purchasing an additional 100 shares during the period. Tribridge Partners Financial LLC acquired a new position in Intuitive Surgical in the 2nd quarter valued at about $209,000. Orion Porfolio Solutions LLC increased its holdings in shares of Intuitive Surgical by 18.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,718 shares of the medical equipment provider's stock worth $9,085,000 after buying an additional 2,634 shares during the last quarter. Finally, Munro Partners purchased a new position in Intuitive Surgical in the second quarter worth approximately $65,704,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Ratings Changes

ISRG has been the subject of a number of research reports. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Citigroup reiterated a "buy" rating and issued a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Evercore ISI lifted their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. Finally, BTIG Research upped their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.