In a recent transaction, Mark J. Rubash, director of Intuitive Surgical Inc . (NASDAQ:ISRG), sold shares of the company's stock, according to a new SEC filing. On May 3, 2024, Rubash sold 1,709 shares at a price of $380.00 each, totaling approximately $649,420.
The sale was conducted under a Trading Plan in accordance with SEC Rule 10b5-1, which allows insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan is set to expire on February 3, 2025.
On the same day, Rubash also acquired 1,709 shares of Intuitive Surgical's common stock at a price of $295.92 per share, amounting to a total of $505,727. This transaction was related to the exercise of options as part of the company's compensation plan for directors.
The transactions resulted in a net decrease in Rubash's holdings of the company's common stock, leaving him with a total of 16,051 shares following the sale. The options exercised by Rubash were set to vest on the earlier of the one-year anniversary of the date of grant or the next Annual Meeting of Stockholders, contingent upon his continued service as a director.
Investors and market watchers often pay close attention to insider buying and selling as it can provide insights into a company's financial health and future prospects. Intuitive Surgical, known for its da Vinci surgical systems, is a leader in robotic-assisted, minimally invasive surgery, a field that continues to evolve and expand.
The transactions were publicly disclosed as required by SEC regulations, which mandate that company insiders report their trading activities in a timely manner.
InvestingPro Insights
Intuitive Surgical Inc. (NASDAQ:ISRG) has been a company of interest for many investors, and recent insider transactions have put it back in the spotlight. As we delve into the financials of the company, InvestingPro data highlights a robust market capitalization of $135.75 billion, showcasing the company's substantial size and presence in the market. Despite a high Price/Earnings (P/E) ratio of 67.76, which indicates a premium valuation, the company's strong revenue growth over the last twelve months as of Q1 2024, at 13.81%, suggests a solid financial performance.
Furthermore, Intuitive Surgical's financial stability is reflected in a Gross Profit Margin of 66.43% for the same period, illustrating the company's efficiency in managing its cost of goods sold and maintaining profitability. This is complemented by an Operating Income Margin of 25.26%, indicating healthy operational profitability.
When considering InvestingPro Tips, it's noteworthy that Intuitive Surgical is trading at a high earnings multiple and a high Price to Earnings Growth (PEG) ratio of 1.31, relative to near-term earnings growth. Additionally, the company's stock generally trades with low price volatility, which may be appealing to investors looking for stable investment options. For those interested in exploring more about Intuitive Surgical's financials and metrics, there are 15 additional InvestingPro Tips available at Investing.com. To gain access to these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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