SUNNYVALE, CA—Mark Brosius, Senior Vice President and Chief Manufacturing and Supply Chain Officer at Intuitive Surgical Inc . (NASDAQ:ISRG), has recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Brosius sold a total of 44 shares over two transactions on October 25 and October 28. The shares were sold at prices ranging from $513.66 to $514.00, amounting to a total transaction value of $22,608.
Following these sales, Brosius retains ownership of 185 shares of Intuitive Surgical stock. The transactions were conducted under a pre-established trading plan compliant with SEC Rule 10b5-1, set to expire on June 13, 2025.
In other recent news, Intuitive Surgical reported a robust third quarter for 2024, with an 18% growth in DaVinci procedures and strong system placements. The company's revenue reached $2 billion, marking a 17% year-over-year increase. The installed base of DaVinci systems grew to approximately 9,300 multi-port systems globally, and 379 systems were placed in Q3. Following these results, Piper Sandler, RBC Capital Markets, and Mizuho Securities adjusted their outlooks on Intuitive Surgical, raising their price targets. Despite ongoing 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
While Mark Brosius's recent sale of Intuitive Surgical (NASDAQ:ISRG) shares may catch investors' attention, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Intuitive Surgical boasts a substantial market capitalization of $181.96 billion, reflecting its significant presence in the medical technology sector.
The company's financial performance has been robust, with revenue growth of 14.83% over the last twelve months as of Q3 2024, reaching $7.87 billion. This growth is complemented by a strong gross profit margin of 66.98%, indicating efficient cost management and pricing power in its niche market of robotic-assisted surgical systems.
InvestingPro Tips highlight that 16 analysts have revised their earnings upwards for the upcoming period, suggesting positive sentiment about the company's near-term prospects. Additionally, Intuitive Surgical's stock has shown a remarkable 97.42% price total return over the past year, significantly outperforming the broader market.
However, investors should note that the stock is trading at a high P/E ratio of 80.35, which may indicate that the market has high growth expectations for the company. This valuation metric aligns with another InvestingPro Tip stating that ISRG is trading at a high earnings multiple.
For those interested in a more comprehensive analysis, InvestingPro offers 17 additional tips for Intuitive Surgical, providing deeper insights into the company's financial health and market position.
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