Intuitive Surgical Inc . (NASDAQ:ISRG) director Craig H. Barratt has sold a total of $1,005,613 worth of company stock, according to a recent SEC filing. The transactions, which took place on June 3, 2024, involved the sale of 1,400 shares at a price of $402.89 each, followed by another batch of 1,096 shares at the same price.
The sales were executed under a Trading Plan in compliance with SEC Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. The plan is set to expire on March 4, 2025.
In addition to the sales, Barratt also acquired shares through the exercise of options on the same day. He exercised options to buy 1,400 shares and another 1,096 shares, both at a price of $56.9744 per share. The total value of the shares acquired through these option exercises amounted to $142,208.
The transactions reflect a mix of exercised options and subsequent sales, which is a common strategy among executives to manage their investment portfolios and diversify their assets while also realizing potential gains.
Following these transactions, Barratt's direct holdings in Intuitive Surgical have been affected, but the filing also indicates that he has indirect ownership of 26,155 shares held by a trust.
Intuitive Surgical Inc., known for its da Vinci surgical systems, is a leader in robotic-assisted, minimally invasive surgery. The company's stock performance and insider transactions are closely watched by investors for insights into executive confidence and potential future stock movements.
Investors and stakeholders in Intuitive Surgical Inc. can access the full details of Barratt's transactions through the SEC's EDGAR database, which provides public filings of company insiders' stock dealings.
InvestingPro Insights
As Intuitive Surgical Inc. (NASDAQ:ISRG) sees significant insider transactions, the market is closely monitoring the company's financial metrics and valuation. The latest data from InvestingPro provides a snapshot of the company's current financial health and market position. With a robust market capitalization of $143.02 billion, Intuitive Surgical commands a strong presence in the medical technology sector. Despite this, the company's P/E ratio stands at a lofty 71.28, indicating that the stock is trading at a high earnings multiple, which is corroborated by an InvestingPro Tip highlighting the stock's high valuation relative to near-term earnings growth. Additionally, the stock is trading near its 52-week high with a price that is 97.96% of this peak, suggesting investor optimism about the company's performance.
From a profitability standpoint, Intuitive Surgical has been profitable over the last twelve months, a reassuring sign for investors. This is further supported by a solid gross profit margin of 66.43% for the same period. The company's revenue has also grown by 13.81% over the last twelve months as of Q1 2024, showcasing its ability to expand its top line effectively. These financial metrics, combined with a high EBITDA growth rate of 16.43%, paint a picture of a company that is not only growing but also efficiently managing its operations.
For those considering investing in Intuitive Surgical, it is worth noting that the company does not pay dividends, which may be a consideration for income-focused investors. However, with a strong return over the last decade and a significant price uptick over the last six months, the stock may appeal to growth-oriented investors. For a deeper analysis, there are additional InvestingPro Tips available, which could provide further insights into the company's financial nuances and stock performance. Investors can explore these tips and more by visiting https://www.investing.com/pro/ISRG and can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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