SUNNYVALE, Calif.— Intuitive Surgical Inc . (NASDAQ:ISRG) saw significant stock activity from its Executive Vice President and Chief Strategy & Corporate Operations Officer, Robert DeSantis, according to a recent SEC filing. On November 11, DeSantis executed a series of transactions involving the company's common stock.
DeSantis sold a total of 239 shares at a price of $539.89 per share, amounting to $129,033. These sales were conducted under a pre-arranged trading plan compliant with SEC Rule 10b5-1, which is set to expire on December 9, 2024.
In addition to the sales, DeSantis exercised options to acquire 239 shares at prices ranging from $229.39 to $304.67, totaling $63,857. Following these transactions, DeSantis holds 5,506 shares of Intuitive Surgical stock.
These transactions reflect strategic financial decisions by a key executive within the company, offering insight into internal perspectives on the stock's valuation.
In other recent news, Intuitive Surgical recently reported a robust third quarter, with the company's revenue reaching $2 billion, marking a 17% year-over-year increase. This was driven by an 18% increase in DaVinci procedures and strong system placements. The installed base of DaVinci systems grew to approximately 9,300 multi-port systems globally, with 379 systems placed in Q3. The company also raised its full-year 2024 procedure growth forecast to a range of 16% to 17%.
Following these results, Piper Sandler, RBC (TSX:RY) Capital Markets, and Mizuho (NYSE:MFG) Securities adjusted their outlooks on Intuitive Surgical. Piper Sandler maintained its Overweight rating and raised its stock price target to $538.00. RBC Capital maintained an Outperform rating and increased the price target to $555.00, while Mizuho maintained a Neutral stance and raised the target to $550.00.
Despite pricing pressures in China, Intuitive Surgical anticipates 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 executive stock transactions occur against a backdrop of strong financial performance and market positioning. According to InvestingPro data, the company boasts a substantial market capitalization of $190.26 billion, reflecting its dominant position in the robotic-assisted surgery market.
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 aligns with an InvestingPro Tip indicating that 16 analysts have revised their earnings upwards for the upcoming period, suggesting optimism about the company's future performance.
Intuitive Surgical's stock has shown remarkable strength, with a 93.07% total return over the past year. This performance is consistent with another InvestingPro Tip highlighting the company's high return over the last year. The stock is currently trading near its 52-week high, with its price at 98.17% of the peak, further underscoring investor confidence.
While the company's P/E ratio of 84.02 indicates a premium valuation, it's worth noting that Intuitive Surgical has maintained profitability over the last twelve months, as pointed out by an InvestingPro Tip. This high valuation may be justified by the company's strong market position and growth prospects in the expanding field of robotic-assisted surgery.
For investors seeking a more comprehensive analysis, InvestingPro offers 15 additional tips on Intuitive Surgical, providing deeper insights into the company's financial health and market performance.
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