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

Key Points

• Intuitive Surgical EVP Gary Loeb sold 400 shares at an average price of $379, generating $151,600; the transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 6.99%.
• Intuitive Surgical shares traded at $393.38, while the company reported quarterly revenue of $2.89 billion and adjusted earnings of $2.80 per share, beating analyst expectations and showing 18.4% year-over-year revenue growth.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $509.02 target price, despite several recent price-target reductions and one downgrade to “Hold.”

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the transaction, the executive vice president directly owned 5,320 shares of the company's stock, valued at approximately $2,016,280. The trade was a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gary Loeb also recently made the following trade(s):

• On Wednesday, June 10th, Gary Loeb sold 400 shares of Intuitive Surgical stock. The shares were sold at an average price of $424.14, for a total value of $169,656.00.

Intuitive Surgical Stock Performance

NASDAQ:ISRG traded up $14.57 during trading hours on Monday, reaching $393.38. The stock had a trading volume of 3,216,792 shares, compared to its average volume of 2,458,957. The stock has a market capitalization of $138.97 billion, a PE ratio of 45.06, a PEG ratio of 2.74 and a beta of 1.47. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The company has a 50 day moving average price of $392.87 and a two-hundred day moving average price of $445.15.

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 firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the company earned $1.81 EPS. The company's quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of analyst reports. HSBC downgraded shares of Intuitive Surgical from a "buy" rating to a "hold" rating and set a $391.00 price target for the company. in a report on Thursday, July 30th. Bank of America cut their target price on Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Truist Financial lowered their price target on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. BMO Capital Markets reiterated an "outperform" rating on shares of Intuitive Surgical in a research report on Monday, July 20th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $483.00 target price (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 issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $509.02.

Institutional Investors Weigh In On Intuitive Surgical

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 34 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Intuitive Surgical by 38.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after purchasing an additional 268 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Intuitive Surgical in the 2nd quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock valued at $1,592,000 after purchasing an additional 1,407 shares in the last quarter. 83.64% of the stock is owned by 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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