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

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s stock price 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 the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president now owns 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 215 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 1,338 shares in the company, valued at $738,669.66. This represents 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 stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $549.06, for a total transaction of $118,047.90. Following the sale, the senior vice president now owns 1,768 shares of the company’s stock, 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 SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial reduced their target price on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Barclays reduced their target price 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 cut their price objective on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, BTIG Research set a $560.00 price objective on Intuitive Surgical and gave the company a “buy” rating in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.95.

Intuitive Surgical Price Performance

The stock has a market capitalization of $188.58 billion, a price-to-earnings ratio of 82.08, a PEG ratio of 5.85 and a beta of 1.67. The business’s fifty day moving average price is $522.38 and its 200-day moving average price is $539.01.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $1.50 earnings per share. Equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Intuitive Surgical in the first quarter valued at about $41,000. Nicola Wealth Management LTD. boosted its stake in Intuitive Surgical by 100.0% in the first quarter. Nicola Wealth Management LTD. now owns 22,000 shares of the medical equipment provider’s stock valued at $10,896,000 after acquiring an additional 11,000 shares during the last quarter. Cim LLC boosted its stake in Intuitive Surgical by 30.5% in the first quarter. Cim LLC now owns 39,911 shares of the medical equipment provider’s stock valued at $19,767,000 after acquiring an additional 9,334 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Intuitive Surgical by 49.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 27 shares during the last quarter. Finally, Invst LLC purchased a new position in Intuitive Surgical in the first quarter valued at about $888,000. 83.64% of the stock is currently owned by hedge funds and other 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.