Mark Brosius Sells 77 Shares of Intuitive Surgical (NASDAQ:ISRG) Stock

Key Points

• Intuitive Surgical EVP Mark Brosius sold 77 shares at an average price of $390.67, generating $30,081.59. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 6.08% to 1,189 shares.
• ISRG shares recently traded at $397.72, with a market capitalization of approximately $140.5 billion. The company’s latest quarterly results exceeded expectations, reporting $2.80 in EPS and $2.89 billion in revenue, up 18.4% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $508.68, while institutional investors and hedge funds own 83.64% of the stock.

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report) EVP Mark Brosius sold 77 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $390.67, for a total value of $30,081.59. Following the completion of the transaction, the executive vice president directly owned 1,189 shares in the company, valued at approximately $464,506.63. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Wednesday, August 19th, Mark Brosius sold 77 shares of Intuitive Surgical stock. The shares were sold at an average price of $394.26, for a total value of $30,358.02.
• 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 value 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 transaction of $9,632.00.
• On Friday, June 12th, Mark Brosius sold 25 shares of Intuitive Surgical stock. The shares were 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 stock was sold at an average price of $420.12, for a total transaction 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 transaction of $7,916.40.

Intuitive Surgical Price Performance

Shares of ISRG stock traded up $6.54 on Wednesday, hitting $397.72. The company's stock had a trading volume of 2,124,590 shares, compared to its average volume of 2,465,721. The stock has a market capitalization of $140.51 billion, a price-to-earnings ratio of 45.56, a P/E/G ratio of 2.85 and a beta of 1.47. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The firm's fifty day moving average price is $389.89 and its 200-day moving average price 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, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The business's quarterly revenue was up 18.4% on a year-over-year basis. Analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Intuitive Surgical

Several large investors have recently bought and sold shares of ISRG. State Street Corp increased its holdings in shares of Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock worth $8,892,753,000 after purchasing an additional 162,264 shares during the period. Capital World Investors raised its position in shares of Intuitive Surgical by 1.7% during the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after buying an additional 127,526 shares during the last quarter. Norges Bank bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. grew its position in Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after buying an additional 611,268 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Intuitive Surgical by 3.3% during the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider's stock worth $1,667,388,000 after buying an additional 116,292 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ISRG shares. UBS Group assumed coverage on Intuitive Surgical in a report on Tuesday, July 28th. They set a "neutral" rating and a $500.00 price objective on the stock. Leerink Partners reduced their target price on Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Jefferies Financial Group cut their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. Bank of America decreased their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $508.68.

About Intuitive Surgical

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source