Intuitive Surgical Inc (NASDAQ:ISRG) Director Alan J. Levy has sold shares of the company's common stock, according to a recent SEC filing. On April 23, Levy sold 2,000 shares at an average price of $370.70, totaling approximately $741,397.
The transactions took place under a Trading Plan that complies with SEC Rule 10b5-1, which allows insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. The plan is set to expire on May 8, 2024.
The sale was executed in multiple transactions with prices ranging from $369.38 to $371.98. The weighted average sale price was reported as $370.6988 per share. Following the sale, Levy's direct holdings in Intuitive Surgical decreased to 25,319 shares of common stock.
On the same day, Levy also acquired 2,000 shares of Intuitive Surgical common stock at a price of $154.24 per share, totaling $308,473. This transaction was part of an option exercise under the company's Non-Employee Directors' Stock Option Plan.
The Form 4 filing with the SEC provides transparency into the actions of the company's directors and executives, offering investors insight into their investment moves. Intuitive Surgical, known for its da Vinci surgical systems, is a leader in the field of robotic-assisted surgery, a sector that continues to grow as technology advances.
Investors and stakeholders of Intuitive Surgical can access full details of the transactions upon request, as indicated in the footnotes of the SEC filing.
InvestingPro Insights
Intuitive Surgical Inc (NASDAQ:ISRG) has been making headlines not only for its innovative da Vinci surgical systems but also for its market performance. According to recent InvestingPro data, the company boasts a substantial market capitalization of $132.51 billion, reflecting its significant presence in the medical technology industry. The company's P/E ratio stands at 66.05, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 66.6, indicating a high valuation by the market relative to its earnings.
InvestingPro Tips highlight that Intuitive Surgical is trading at a high earnings multiple and possesses a high Price / Book multiple of 9.53 as of the last twelve months ending Q1 2024. This suggests that investors are willing to pay a premium for the company's shares, possibly due to its leadership position in the robotic-assisted surgery market and its growth prospects. Additionally, the company has experienced a robust revenue growth of 13.81% over the last twelve months as of Q1 2024, which may further justify the high multiples.
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