SUNNYVALE, Calif.—Samath Jamie, the Chief Financial Officer and Head of Business Technology at Intuitive Surgical Inc . (NASDAQ:ISRG), reported selling shares of the company on November 26, 2024, according to a recent SEC filing.
Jamie sold a total of 108 shares of Intuitive Surgical's common stock at a price of $542.06 per share, amounting to a total sale value of $58,542. Following these transactions, Jamie retains direct ownership of 8,757 shares.
In addition to the sales, Jamie exercised stock options to acquire 108 shares at prices ranging from $245.6 to $347.4167, with the total value of these acquisitions amounting to $32,022. These transactions were conducted as part of a pre-established trading plan that complies with SEC Rule 10b5-1, which is set to expire on May 6, 2025.
In other recent news, Intuitive Surgical has been making significant strides in its financial performance and market presence. The company recently reported a robust third-quarter revenue of $2 billion, marking a 17% year-over-year increase. This growth was primarily driven by an 18% rise in DaVinci procedures and strong system placements.
Erste Group recently upgraded Intuitive Surgical shares from Hold to Buy, reflecting a positive outlook for the company's financial health and market performance. This upgrade comes on the back of the company's superior market position and a track record of profitable growth. Piper Sandler, RBC Capital Markets, and Mizuho (NYSE:MFG) Securities have also adjusted their outlooks on Intuitive Surgical, raising their price targets following the company's strong earnings report.
The company's installed base of DaVinci systems has grown to approximately 9,300 multi-port systems globally, with 379 systems placed in the third quarter. Intuitive Surgical also raised its full-year 2024 procedure growth forecast to a range of 16% to 17%. Despite facing pricing pressures in China, the company 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 Intuitive Surgical.
InvestingPro Insights
As Intuitive Surgical's CFO Samath Jamie engages in stock transactions, it's worth noting some key financial metrics and insights from InvestingPro that provide context to the company's current market position.
Intuitive Surgical boasts a substantial market capitalization of $193.07 billion, reflecting its significant presence in the medical technology sector. The company's revenue growth remains robust, with a 14.83% increase over the last twelve months as of Q3 2024, and an even stronger quarterly growth of 16.88% in Q3 2024. This growth trajectory aligns with the company's high valuation multiples, including a P/E ratio of 85.34.
InvestingPro Tips highlight that Intuitive Surgical is trading near its 52-week high, with a strong return of 70.47% over the past year. This performance is part of a broader trend, as the company has delivered high returns over the last decade. These metrics suggest that investor confidence in Intuitive Surgical remains strong, potentially influencing insider trading decisions.
The company's financial health appears solid, with liquid assets exceeding short-term obligations, indicating a strong balance sheet. Additionally, Intuitive Surgical has been profitable over the last twelve months, with analysts predicting continued profitability for the current year.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips that could provide deeper insights into Intuitive Surgical's financial outlook and market position.
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