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 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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