This cluster is too small to warrant a trade signal. Monitor for any larger C-suite sales or a material 8-K filing (e.g., earnings, guidance change, regulatory event) that could explain the timing. Given the poor historical track record of bullish calls on ISRG (13% win rate at T+20), avoid reading into this as a bearish signal.
Price Chart
Executive Summary
Two insiders at Intuitive Surgical, including EVP & Chief Legal Officer Gary Loeb and Director Amy Ladd, sold a combined $303K in open-market sales over two days. The total value is negligible relative to the $139B market cap (~0.0002%), making this a routine, non-informational cluster. Historical calibration on ISRG shows prior bullish/long calls have underperformed significantly (avg T+20 P&L -4.59%, 13% win rate), further supporting a neutral stance here.
Key Financial Metrics
Key Facts
- EVP & Chief Legal Officer Gary Loeb sold 400 shares at $379.00 on 2026-08-10 ($151.6K)
- Director Amy Ladd sold 400 shares at $379.00 on 2026-08-10 ($151.6K) and 72 shares at $393.10 on 2026-08-11 ($28.3K)
- Total cluster value of $303K is ~0.0002% of ISRG's $139B market cap — well below the 0.1% materiality threshold
- No C-suite CEO/CFO involvement; sales are by a director and an EVP, not top executives
- No 10b5-1 plan information provided, but the small dollar amounts and lack of C-suite participation suggest routine diversification or tax planning
Financial Impact
Total insider sales of $303K represent ~0.0002% of market cap — economically trivial
Risk Factors
- Insider sales could accelerate if a material negative event is pending but not yet disclosed
- Historical calibration shows ISRG bullish calls have a 13% T+20 win rate — any directional read from this cluster would likely be wrong
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ISRG-1786485713756 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 11d ago | ANALYST-UPGRADE | $414.52 $422.06 | ▲ +1.82% | ▲ +1.72% | $426.70 (+2.94%) |
Sep 16, 2026 4w ago | Insider Cluster | $382.29 $398.30 | ▲ +4.19% | ▲ +1.62% | $426.70 (+11.62%) |
Aug 19, 2026 8w ago | Insider Cluster | $374.48 $367.07 | ▼ −1.98% | ▼ −3.09% | $426.70 (+13.94%) |
Aug 13, 2026 9w ago | Court Ruling | $401.27 $374.48 | ▲ +6.68% | ▲ +4.71% | $426.70 (−6.34%) |
Aug 12, 2026 9w ago | ANALYST-UPGRADE | $401.27 $397.72 | ▼ −0.88% | ▼ −0.44% | $426.70 (+6.34%) |
Aug 12, 2026 9w ago | Insider Cluster | $401.27 $397.72 | ▼ −0.88% | ▼ −0.44% | $426.70 (+6.34%) |
Aug 11, 2026 9w ago | Insider Cluster | $401.27 $397.72 | ▼ −0.88% | ▼ −0.44% | $426.70 (+6.34%) |
Jul 30, 2026 11w ago | ANALYST-DOWNGRADE | $352.97 $373.71 | ▲ +5.88% | ▲ +2.25% | $426.70 (+20.89%) |
Jul 16, 2026 13w ago | Press Release | $345.42 $332.02 | ▼ −3.88% | ▼ −3.19% | $426.70 (+23.53%) |
Jul 9, 2026 14w ago | ANALYST-UPGRADE | $411.55 $402.33 | ▼ −2.24% | ▼ −2.11% | $426.70 (+3.68%) |
US Market Status
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