Intuitive Surgical (NASDAQ:ISRG) Trading Down 5.2% Following Insider Selling

Key Points

• Shares of Intuitive Surgical fell 5.2% to $444.58 following insider selling by Gary S. Guthart, who sold 29,360 shares at an average price of $472.49.
• Despite the recent drop, the stock has received positive ratings from several analysts, with a consensus rating of "Moderate Buy" and a target price of $595.95.
• Intuitive Surgical reported strong earnings on July 22, with an EPS of $2.19, exceeding analysts' expectations and showcasing a 21.4% revenue growth year-over-year.

Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) dropped 5.2% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $446.29 and last traded at $444.58. Approximately 1,387,273 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 1,985,580 shares. The stock had previously closed at $469.07.

Specifically, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $615.00 target price on shares of Intuitive Surgical in a report on Tuesday, August 19th. Finally, BTIG Research raised their price target on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Thirteen 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.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Stock Down 6.0%

The stock has a market capitalization of $158.13 billion, a P/E ratio of 61.49, a PEG ratio of 4.96 and a beta of 1.61. The firm has a 50-day moving average of $498.54 and a 200 day moving average of $515.81.

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

Institutional Investors Weigh In On Intuitive Surgical

A number of institutional investors have recently added to or reduced their stakes in ISRG. Total Investment Management Inc. bought a new position in Intuitive Surgical in the second quarter worth $82,000. Lavaca Capital LLC grew its position in Intuitive Surgical by 2.3% in the second quarter. Lavaca Capital LLC now owns 4,423 shares of the medical equipment provider's stock worth $2,404,000 after acquiring an additional 100 shares in the last quarter. Tribridge Partners Financial LLC bought a new stake in Intuitive Surgical in the second quarter worth about $209,000. Orion Porfolio Solutions LLC boosted its stake in shares of Intuitive Surgical by 18.7% during the second quarter. Orion Porfolio Solutions LLC now owns 16,718 shares of the medical equipment provider's stock valued at $9,085,000 after purchasing an additional 2,634 shares in the last quarter. Finally, Munro Partners purchased a new stake in Intuitive Surgical during the second quarter valued at approximately $65,704,000. 83.64% of the stock is owned by institutional investors.

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.