Research Desk Line-up: Steris Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Intuitive Surgical, Inc. (NASDAQ: ISRG) ("Intuitive"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ISRG. The Company announced on August 11, 2017, that its common stock would be split into a three-for-one ratio. The split has been approved by the Company's Board of Directors. The split will be done after effecting an Amendment to the Company's Certificate of Incorporation. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Medical Appliances & Equipment industry. Pro-TD has currently selected Steris PLC (NYSE: STE) for due-diligence and potential coverage as the Company announced on August 08, 2017, its financial results for Q1 FY18 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Steris when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ISRG; also brushing on STE. Go directly to your stock of interest and access today's free coverage at:

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The Company's decision comes at a time when the share price is close to touching the $1,000 mark. Intuitive's share price at the end of the trading session on August 11, 2017, was $942.25 with a 1.38% gain.

Details of the stock split

The split of the stock is possible after the Amendment to the Company's Certificate of Incorporation is affected and this would require the approval of the Company's shareholders. If the shareholders of the Company approve the split, they will receive two additional shares for each Intuitive share that they hold and would be based on the shareholding of the shareholders on the record date. The record date for the stock split has been set for September 29, 2017. The trading of the stock post the split will commence from October 06, 2017.

The Company has scheduled a Special Meeting of Stockholders on September 22, 2017, where the approval for the stock split as well as for making the Amendment to the Certificate of Incorporation will be taken. The Company plans to release a proxy statement which would be distributed to the shareholders on or around August 30, 2017. The proxy statement would contain additional details regarding the Special Meeting of Stockholders and the proposed Amendment to the Certificate of Incorporation.

Equity Awards/ Employee Grants for August 2017

In a separate communication on the same date, i.e. August 11, 2017, Intuitive announced the equity awards to 126 new employees. These were approved by the Compensation Committee of the Board of Directors which is completely made up of Independent Directors.

The equity awards are, as per the Company's 2009 Commencement Incentive Plan, put in place by the Board of Directors of Intuitive, wherein new employees of the Company are granted equity awards. These 126 employees received a mix of Restricted Stock Units (RSUs) and Stock Options to purchase an aggregate of 17,441 shares of the Company's common stock. Out of the shares granted, 8,731 were Stock Options and 8,710 were RSUs. The exercise price of shares via the Stock Options was $936.63, which was the closing price of Intuitive share on August 07, 2017.

The RSUs and Stock Options have a four-year vesting period and the Stock Options expire in 10 years provided the employee is still employed with the Company. The Incentive Plan does not cover any officers.

The Incentive Plan is as per NASDAQ Marketplace Rule 5635(c)(4) and as per the provisions of the rule, the equity grants to employees does not require shareholder approval. The rules only mandate the announcement of the employee grants when made.

About Intuitive Surgical Inc.

Sunnyvale, California-based Intuitive Surgical is a global leader in robotic-assisted, minimally invasive surgery. The Company develops, manufactures and markets robotic technologies and accessories. It's robotic technologies are designed to improve clinical outcomes and help patients return more quickly to active and productive lives.

The Company's proprietary da Vinci® Surgical System is a breakthrough surgical platform designed to enable complex surgery using a minimally invasive approach. The da Vinci® Surgical System consists of a surgeon's console, a patient-side cart, and a vision system. The da Vinci® Surgical System translates a surgeon's hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports. The da Vinci® Surgical System makes it possible for more surgeons to perform minimally invasive procedures involving complex dissection or reconstruction, resulting in benefits for patients such as higher standard of care for complex surgeries, less pain, a shorter recovery time, and a quicker return to normal daily activities.

Last Close Stock Review

At the closing bell, on Monday, August 14, 2017, Intuitive Surgical's stock rose 2.37%, ending the trading session at $964.56. A total volume of 326.55 thousand shares have exchanged hands. The Company's stock price soared 13.39% in the last three months, 35.72% in the past six months, and 39.61% in the previous twelve months. Moreover, the stock skyrocketed 52.10% since the start of the year. The stock is trading at a PE ratio of 46.14 and currently, has a market cap of $35.69 billion.

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