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

Intuitive Surgical, Inc. (NASDAQ:ISRG) shares gapped down before the market opened on Monday following insider selling activity. 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.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird lowered their price objective on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a “hold” rating to a “sell” rating and cut their target price for the stock from $515.00 to $440.00 in a research note on Monday. Barclays cut their price objective on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Finally, Evercore ISI lowered their price objective on Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $588.95.

Intuitive Surgical Trading Up 0.7%

The business has a 50-day moving average price of $523.08 and a 200 day moving average price of $538.95. The stock has a market cap of $189.82 billion, a PE ratio of 82.62, a PEG ratio of 5.85 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.19 billion. During the same period in the prior year, the company earned $1.50 EPS. On average, equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Hedge Funds Weigh In On Intuitive Surgical

Several institutional investors and hedge funds have recently modified their holdings of ISRG. Onefund LLC increased its holdings in Intuitive Surgical by 1.9% in the 4th quarter. Onefund LLC now owns 947 shares of the medical equipment provider’s stock worth $494,000 after buying an additional 18 shares in the last quarter. AlphaCore Capital LLC lifted its position in shares of Intuitive Surgical by 4.2% during the 4th quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider’s stock valued at $235,000 after buying an additional 18 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Intuitive Surgical by 2.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the medical equipment provider’s stock worth $390,000 after purchasing an additional 19 shares in the last quarter. Accredited Investors Inc. raised its holdings in Intuitive Surgical by 1.9% during the 4th quarter. Accredited Investors Inc. now owns 1,040 shares of the medical equipment provider’s stock valued at $543,000 after buying an additional 19 shares during the period. Finally, Second Line Capital LLC increased its stake in Intuitive Surgical by 3.4% in the fourth quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider’s stock worth $302,000 after purchasing an additional 19 shares during the period. 83.64% of the stock is currently 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.