SUNNYVALE, Calif.—Robert DeSantis, Executive Vice President and Chief Strategy and Corporate Operations Officer at Intuitive Surgical Inc . (NASDAQ:ISRG), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission.
On November 26, DeSantis sold 396 shares of Intuitive Surgical's common stock at a price of $542.06 per share, totaling approximately $214,655. These sales were conducted under a pre-arranged trading plan in compliance with SEC Rule 10b5-1, which is set to expire on December 9, 2024.
In addition to the sales, DeSantis acquired 396 shares through the exercise of stock options at prices ranging from $245.6 to $347.4167, representing a total value of $117,417. Following these transactions, DeSantis holds 5,506 shares of the company's stock.
These transactions reflect routine portfolio management by the executive, who remains actively involved in the strategic operations of Intuitive Surgical, a leader in robotic-assisted surgical systems.
In other recent news, Intuitive Surgical has been the focus of several analyst upgrades and adjustments following impressive third-quarter results. The company reported a 17% year-over-year increase in revenue, reaching $2 billion, and an 18% rise in DaVinci procedures. Erste Group upgraded Intuitive Surgical shares from Hold to Buy, forecasting double-digit percentage growth rates in both sales and profits for 2024 and 2025. Piper Sandler, RBC Capital Markets, and Mizuho (NYSE:MFG) Securities also adjusted their outlooks on Intuitive Surgical, raising their price targets after the strong earnings report. In addition, Intuitive Surgical raised its full-year 2024 procedure growth forecast to a range of 16% to 17%. The company is also preparing for a broad launch of DaVinci 5 by mid-2025 and is focusing on expanding the Ion system internationally, particularly in China and Europe. These are the recent developments for the company.
InvestingPro Insights
Intuitive Surgical's recent stock transactions by Executive Vice President Robert DeSantis align with the company's strong market position and financial performance. According to InvestingPro data, Intuitive Surgical boasts a substantial market capitalization of $193.07 billion, reflecting investor confidence in its robotic-assisted surgical systems.
The company's revenue growth is noteworthy, with a 14.83% increase over the last twelve months as of Q3 2024, and an even more impressive 16.88% quarterly growth in Q3 2024. This robust growth trajectory supports the executive's decision to exercise options and partially divest shares, potentially capitalizing on the company's success.
InvestingPro Tips highlight that Intuitive Surgical is trading near its 52-week high, with a significant 70.47% price return over the past year. This performance aligns with the company's strong financial metrics, including a high gross profit margin of 66.98% and an operating income margin of 26.24% for the last twelve months as of Q3 2024.
It's worth noting that Intuitive Surgical is trading at a high P/E ratio of 85.34, which may indicate investor optimism about future growth prospects. This valuation is further supported by the fact that 16 analysts have revised their earnings upwards for the upcoming period, as noted in another InvestingPro Tip.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips on Intuitive Surgical, providing deeper insights into the company's financial health and market position.
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