Intuitive Surgical (NASDAQ:ISRG) VP Sells $407,765.16 in Stock

Intuitive Surgical, Inc. (NASDAQ:ISRG) VP Fredrik Widman sold 1,089 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $374.44, for a total value of $407,765.16. Following the completion of the sale, the vice president owned 1,026 shares of the company’s stock, valued at approximately $384,175.44. The trade was a 51.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $393.33 on Friday. The company has a 50 day simple moving average of $372.69 and a 200-day simple moving average of $419.71. The company has a market capitalization of $138.96 billion, a P/E ratio of 45.06, a P/E/G ratio of 2.89 and a beta of 1.47. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, research analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ISRG. Wells Fargo & Company restated an “overweight” rating and issued a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Robert W. Baird dropped their price target on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada decreased their price objective on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Twenty-two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $508.68.

Hedge Funds Weigh In On Intuitive Surgical

Institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC increased its holdings in Intuitive Surgical by 12.3% during the 2nd quarter. Anchor Investment Management LLC now owns 7,408 shares of the medical equipment provider’s stock worth $2,946,000 after purchasing an additional 809 shares during the period. ABS Direct Equity Fund LLC grew its position in shares of Intuitive Surgical by 120.8% during the second quarter. ABS Direct Equity Fund LLC now owns 795 shares of the medical equipment provider’s stock worth $316,000 after buying an additional 435 shares in the last quarter. Rench Wealth Management Inc. increased its stake in shares of Intuitive Surgical by 2.0% during the second quarter. Rench Wealth Management Inc. now owns 15,743 shares of the medical equipment provider’s stock worth $6,261,000 after buying an additional 311 shares during the period. IPG Investment Advisors LLC acquired a new stake in Intuitive Surgical in the second quarter valued at approximately $218,000. Finally, National Pension Service lifted its holdings in Intuitive Surgical by 3.1% during the 2nd quarter. National Pension Service now owns 749,814 shares of the medical equipment provider’s stock worth $298,186,000 after buying an additional 22,372 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company’s principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.