Samath Jamie, the CFO and Head of Business Technology at Intuitive Surgical, Inc. (NASDAQ:ISRG), a $194 billion medical technology company trading near its 52-week high of $556.23, recently executed a series of stock transactions as disclosed in a recent SEC filing. According to InvestingPro data, the stock has delivered an impressive 59.5% return year-to-date. On December 10, Jamie sold 270 shares of the company's common stock at a price of $540.155 per share, totaling approximately $145,841.
In addition to the sales, Jamie also exercised stock options to acquire 270 shares at prices ranging from $229.39 to $304.67, resulting in a total transaction value of $72,098. Following these transactions, Jamie holds 8,757 shares directly. These transactions were conducted under a pre-established trading plan compliant with SEC Rule 10b5-1, which expires in May 2025.
In other recent news, Intuitive Surgical has been the subject of multiple analyst upgrades and positive earnings reports. Morgan Stanley (NYSE:MS) upgraded Intuitive Surgical's shares from Equalweight to Overweight, reflecting optimism about the company's long-term prospects. Erste Group also upgraded the stock from Hold to Buy, predicting double-digit percentage growth rates in sales and profits for 2024 and 2025.
The company reported a 17% year-over-year increase in revenue, reaching $2 billion in the third quarter, driven by an 18% rise in DaVinci procedures and robust system placements. Piper Sandler, RBC Capital Markets, and Mizuho (NYSE:MFG) Securities have all raised their price targets following the company's strong earnings report.
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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