The insider sales are routine and 10b5-1 plan-driven, with no material signal. Monitor next quarter's earnings for any change in procedure growth trajectory or margin guidance.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Oct 28 $448.76entry
- T+1 · 7d ago −3.73%α −1.96% · $432.01
- T+5 · due 14h ago Pending
- T+5 · todayOpen
- T+20 · in 20d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Five insiders at Intuitive Surgical sold a total of ~$11.9M in open-market sales over a 7-day window, all under 10b5-1 plans. The sales follow a strong Q3 earnings report (revenue +22% YoY, raised procedure guidance) and represent about 0.02% of the company's market cap, which is trivial. The cluster is dominated by a director's $9.1M sale and a VP's $1.8M sale, but the small size relative to market cap and the 10b5-1 plan status make this routine.
Key Financial Metrics
Key Facts
- Five insiders sold shares in open-market transactions totaling ~$11.9M.
- All sales were under 10b5-1 trading plans.
- The largest sale was by Director Gary S. Guthart for $9.08M (20,095 shares at $451.61).
- The cluster occurred 8 days after Q3 2026 earnings that showed revenue of $3.05B (+22% YoY) and non-GAAP EPS of $3.00 (1.7% beat).
- Total open-market sales represent approximately 0.02% of market cap, well below the 0.1% materiality threshold.
Financial Impact
Total open-market sales of ~$11.9M, or ~0.02% of market cap. Non-cash derivative exercises by Widman Fredrik had no economic value.
Risk Factors
- No material risk identified from this cluster given the small dollar amounts relative to market cap and 10b5-1 plan status.
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ISRG-1793649220004 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | 144 | $482.20 | awaiting T+60 | awaiting T+60 | $440.75 (−8.60%) |
Nov 2, 2026 2d ago | 8-K | $440.75 | awaiting T+60 | awaiting T+60 | $440.75 (0.00%) |
Oct 30, 2026 5d ago | 144 | $436.87 | awaiting T+60 | awaiting T+60 | $440.75 (+0.89%) |
Oct 28, 2026 7d ago | Insider Cluster | $448.76 | awaiting T+60 | awaiting T+60 | $440.75 (−1.78%) |
Oct 28, 2026 7d ago | Insider Cluster | $448.76 | awaiting T+60 | awaiting T+60 | $440.75 (−1.78%) |
Oct 26, 2026 9d ago | Insider Cluster | $451.63 | awaiting T+60 | awaiting T+60 | $440.75 (−2.41%) |
Oct 23, 2026 12d ago | 144 | $451.63 | awaiting T+60 | awaiting T+60 | $440.75 (−2.41%) |
Oct 23, 2026 12d ago | 144 | $451.63 | awaiting T+60 | awaiting T+60 | $440.75 (−2.41%) |
Oct 20, 2026 15d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 20, 2026 15d ago | Press Release | $428.12 | awaiting T+60 | awaiting T+60 | $440.75 (+2.95%) |
US Market Status
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