Jan 30- Samath Jamie, EVP and CFO of Intuitive Surgical Inc. (ISRG, Financial), sold 21,450 shares for a loss of approximately $4 million, a move that has raised investors' eyebrows. Jamie sold off 6,988 shares of itself between Jan. 28 and Jan. 29 at prices ranging from $566.6 to $575.0 per share, according to SEC filings. Jamie still owns 2,630 shares, which is down from his 9,881 when he exercised options to buy shares at a much lower price. The transactions, in accordance with SEC Rule 10b5-1, which is applicable to such transactions, will expire on May 6, 2025.
Despite Jamie's stock sale, Intuitive Surgical has particularly good financial performance. Shares of the company have risen 51.4 percent in the last year, and analysts are still bullish. Following a 10% top line and a 24% bottom line beat in Q4, RBC Capital Markets maintained an Outperform rating and a price target of $641.00. Piper Sandler lifted its price target to $670, saying momentum is continuing, and Bernstein came in at $700 on confidence in the company's growth.
However, some caution remains. Even after the solid earnings report and the biggest distribution agreement with a 290 million closing by 2026, Oppenheimer still maintains a Perform rating. The mixed outlook represents contrasting views on the outlook for Intuitive's near term growth.
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