SUNNYVALE, Calif.—Samath Jamie, the Chief Financial Officer and Head of Business Technology at Intuitive Surgical Inc . (NASDAQ:ISRG), recently reported stock transactions in a filing with the Securities and Exchange Commission. The transactions come as the medical device maker's stock trades near its 52-week high of $552, having delivered an impressive 60% return year-to-date. On November 29, Jamie sold 188 shares of Intuitive Surgical's common stock at a price of $539.00 per share, totaling $101,332.
Additionally, Jamie exercised stock options to acquire 188 shares at prices ranging from $208.90 to $290.33, with a total transaction value of $46,927. These transactions were conducted under a pre-arranged trading plan in accordance with SEC Rule 10b5-1, set to expire on May 6, 2025. Following these transactions, Jamie holds 8,757 shares of Intuitive Surgical common stock.
In other recent news, Intuitive Surgical has seen a series of upgrades and raised price targets from financial institutions. Morgan Stanley (NYSE:MS) upgraded the company's stock from Equalweight to Overweight, emphasizing the firm's long-term prospects in the healthcare robotics sector, and raised the price target to $650. Similarly, Erste Group upgraded Intuitive Surgical from Hold to Buy, predicting robust financial performance in the upcoming years with double-digit growth rates in sales and profits for 2024 and 2025.
Additionally, Piper Sandler and RBC (TSX:RY) Capital Markets adjusted their price targets following the company's strong earnings report, with Piper Sandler raising its target to $538 and RBC Capital Markets to $555. Mizuho (NYSE:MFG) Securities also increased its price target to $550, maintaining a neutral stance.
These adjustments followed Intuitive Surgical's robust third-quarter results, with revenue reaching $2 billion, marking a 17% year-over-year increase, driven by an 18% rise in DaVinci procedures and strong system placements. The company also raised its full-year 2024 procedure growth forecast to a range of 16% to 17%.
Despite pricing pressures in China, Intuitive Surgical is preparing for a broad launch of DaVinci 5 by mid-2025 and plans to expand the Ion system internationally, especially in China and Europe. These are some of the recent developments for the company.
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