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SUNNYVALE, Calif. — Robert DeSantis, Executive Vice President and Chief Strategy & Corporate Operations Officer at Intuitive Surgical Inc . (NASDAQ:ISRG), recently executed a series of stock transactions involving the company's common stock.
On November 29, DeSantis sold a total of 376 shares at a price of $539.00 per share, amounting to a total value of $202,664. These transactions were carried out under a pre-established trading plan that complies with SEC Rule 10b5-1 and is set to expire on December 9, 2024.
In addition to the sales, DeSantis acquired 376 shares through option exercises at prices ranging from $208.90 to $290.33, totaling $93,855. Following these transactions, DeSantis holds 5,506 shares of Intuitive Surgical directly.
These transactions reflect routine trading activity by DeSantis as part of his compensation and stock option plan.
In other recent news, Intuitive Surgical has been the subject of several analyst upgrades following strong financial performance. Morgan Stanley (NYSE:MS) upgraded Intuitive Surgical's stock from Equalweight to Overweight, citing optimism about the company's long-term prospects in the healthcare robotics sector. Similarly, Erste Group upgraded the stock from Hold to Buy, predicting double-digit percentage growth rates in both sales and profits for 2024 and 2025.
Piper Sandler, RBC Capital Markets, and Mizuho (NYSE:MFG) Securities also raised their price targets for Intuitive Surgical following the company's robust third-quarter results. These results saw a 17% year-over-year increase in revenue, reaching $2 billion, driven by an 18% rise in DaVinci procedures and strong system placements.
Recent developments for Intuitive Surgical include preparing for a broad launch of DaVinci 5 by mid-2025 and plans to expand the Ion system internationally, particularly in China and Europe. However, these plans are in the face of ongoing pricing pressures in China. Despite these challenges, analysts from Morgan Stanley, Erste Group, Piper Sandler, RBC Capital Markets, and Mizuho Securities maintain a positive outlook for the company's future.
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