Intuitive Surgical Inc . (NASDAQ:ISRG) director Craig H. Barratt has sold 1,400 shares of the company's common stock at an average price of $421.06, totaling over $589,484. The transaction took place on June 12, 2024, according to a recent SEC filing. On the same day, Barratt also acquired 1,400 shares at a price of $56.9744 each, amounting to $79,764.
The sale was conducted under a prearranged Trading Plan in compliance with SEC Rule 10b5-1, which allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own. The plan is set to expire on March 4, 2025.
Following the sale, Barratt's ownership in Intuitive Surgical Inc. includes 26,155 shares held indirectly by a Trust. The recent transactions reflect changes in Barratt's holdings, but investors should note that the sale may not be directly related to the company's current performance or future outlook.
Intuitive Surgical, known for its da Vinci surgical systems, is a leader in robotic-assisted, minimally invasive surgery. The company's stock is frequently watched by investors interested in the healthcare and technology sectors.
For further details on the transactions, investors can refer to the full SEC Form 4 filing.
In other recent news, Intuitive Surgical has been the focus of several key developments. The U.S. Food and Drug Administration (FDA) approved a labeling revision for Intuitive's da Vinci X and Xi surgical systems, indicating that survival rates for patients undergoing robotic-assisted radical prostatectomy match those of traditional open surgery. This decision was based on a review of real-world evidence from a study of nearly 25,000 patients.
In analyst news, Goldman Sachs (NYSE:GS) initiated coverage on Intuitive Surgical with a Buy rating and a price target of $500.00, citing potential for increased penetration of robotic-assisted surgery. Meanwhile, Piper Sandler maintained its Overweight rating and adjusted its price target for Intuitive Surgical to $435 from the previous $425, following the company's first-quarter earnings that exceeded consensus estimates on both revenue and earnings per share.
Jefferies also maintained a Hold rating on Intuitive Surgical but increased the stock price target to $375 from $365, following the announcement of the company's first-quarter financial results. The company reported revenues of $1.89 billion, a growth of 11% compared to consensus estimates of $1.87 billion, and earnings per share (EPS) of $1.50, representing a 22% increase over the predicted $1.42. These recent developments underscore the ongoing evolution and growth of Intuitive Surgical.
InvestingPro Insights
As Intuitive Surgical Inc. (NASDAQ:ISRG) continues to capture the attention of investors in the healthcare technology space, recent market data from InvestingPro provides additional context to the company's financial landscape. With a robust market capitalization of $151.99 billion, Intuitive Surgical stands out as a significant player in the industry. The company's P/E ratio, while high at 75.69, indicates investor confidence in its earnings potential, despite it trading at a high multiple relative to its near-term earnings growth.
The firm's financial health is further underscored by its solid revenue growth, with a notable 13.81% increase over the last twelve months as of Q1 2024. This growth momentum is mirrored in its quarterly revenue upswing of 11.46% in Q1 2024. Additionally, Intuitive Surgical's strong gross profit margin of 66.43% highlights its ability to maintain profitability in its operations.
InvestingPro Tips suggest that Intuitive Surgical's stock is currently in overbought territory, which could be of interest to investors looking for entry and exit points. Furthermore, the company is recognized for its low price volatility, providing a degree of stability in a portfolio. For those seeking deeper analysis, InvestingPro offers numerous other tips, including insights on valuation multiples and profitability forecasts. With the use of coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to over 15 InvestingPro Tips for Intuitive Surgical, ranging from detailed valuation multiples to profitability predictions and stock performance trends.
As Intuitive Surgical navigates the market, these financial metrics and expert tips offer valuable information for both current and prospective shareholders to consider alongside the recent insider trading activity.
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