Intuitive Surgical (NASDAQ:ISRG) Stock Price Down 0.7% After Insider Selling

Intuitive Surgical, Inc. (NASDAQ:ISRG - Get Free Report)'s share price dropped 0.7% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $581.06 and last traded at $587.43. Approximately 220,386 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,759,780 shares. The stock had previously closed at $591.65.

Specifically, EVP Myriam Curet sold 408 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $589.75, for a total transaction of $240,618.00. Following the completion of the transaction, the executive vice president now directly owns 353 shares of the company's stock, valued at $208,181.75. This represents a 53.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jamie Samath sold 269 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $590.00, for a total transaction of $158,710.00. Following the transaction, the chief financial officer now directly owns 3,282 shares of the company's stock, valued at $1,936,380. This represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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Wall Street Analysts Forecast Growth

ISRG has been the subject of several analyst reports. Bernstein Bank raised their price objective on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. BTIG Research raised their price objective on shares of Intuitive Surgical from $535.00 to $561.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Morgan Stanley raised shares of Intuitive Surgical from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $522.00 to $650.00 in a report on Monday, December 2nd. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $630.00 to $687.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Barclays increased their target price on shares of Intuitive Surgical from $610.00 to $674.00 in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $613.10.

Intuitive Surgical Stock Performance

The company has a market cap of $212.12 billion, a PE ratio of 92.91, a PEG ratio of 5.67 and a beta of 1.39. The business's 50-day moving average is $559.48 and its 200 day moving average is $519.66.

Hedge Funds Weigh In On Intuitive Surgical

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Intuitive Surgical by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock worth $16,813,478,000 after purchasing an additional 360,591 shares during the period. State Street Corp raised its position in Intuitive Surgical by 1.4% in the 3rd quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider's stock worth $7,393,673,000 after purchasing an additional 210,363 shares during the period. FMR LLC raised its position in Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider's stock worth $5,389,765,000 after purchasing an additional 838,793 shares during the period. Geode Capital Management LLC raised its position in Intuitive Surgical by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock worth $4,039,200,000 after purchasing an additional 243,802 shares during the period. Finally, Fisher Asset Management LLC raised its position in Intuitive Surgical by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock worth $2,541,356,000 after purchasing an additional 86,488 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Company Profile

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.