Intuitive Surgical (NASDAQ:ISRG) Shares Gap Down on Insider Selling

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) shares gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $557.08, but opened at $531.50. Intuitive Surgical shares last traded at $510.85, with a volume of 981,759 shares traded.

Specifically, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president now directly owns 907 shares of the company's stock, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mark Brosius sold 215 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $552.07, for a total value of $118,695.05. Following the completion of the transaction, the senior vice president now owns 1,338 shares in the company, valued at approximately $738,669.66. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, SVP Mark Brosius sold 215 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $549.06, for a total value of $118,047.90. Following the transaction, the senior vice president now directly owns 1,768 shares in the company, valued at $970,738.08. The trade was a 10.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ISRG. Barclays decreased their price objective on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada dropped their target price on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial decreased their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI dropped their price objective on Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reduced their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $588.95.

Intuitive Surgical Stock Down 1.8%

The company has a market cap of $183.87 billion, a P/E ratio of 80.03, a PEG ratio of 5.85 and a beta of 1.67. The firm has a fifty day moving average price of $524.49 and a 200 day moving average price of $538.83.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. The firm had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter last year, the business earned $1.50 earnings per share. On average, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Institutional Trading of Intuitive Surgical

Several institutional investors and hedge funds have recently added to or reduced their stakes in ISRG. Vanguard Group Inc. lifted its holdings in shares of Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after buying an additional 453,335 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Intuitive Surgical by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock valued at $4,039,200,000 after acquiring an additional 243,802 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Intuitive Surgical by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock worth $2,541,356,000 after acquiring an additional 86,488 shares during the last quarter. Norges Bank acquired a new stake in Intuitive Surgical during the fourth quarter worth approximately $2,401,493,000. Finally, Invesco Ltd. raised its holdings in shares of Intuitive Surgical by 1.7% during the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock valued at $2,090,027,000 after purchasing an additional 71,794 shares during the period. 83.64% of the stock is owned by institutional investors.

About Intuitive Surgical

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.