Alpha Cubed Investments LLC Has $24.68 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Alpha Cubed Investments LLC lessened its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 40.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,167 shares of the medical equipment provider’s stock after selling 50,068 shares during the quarter. Intuitive Surgical accounts for about 1.4% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 22nd biggest holding. Alpha Cubed Investments LLC’s holdings in Intuitive Surgical were worth $24,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Portside Wealth Group LLC boosted its holdings in shares of Intuitive Surgical by 8.2% in the fourth quarter. Portside Wealth Group LLC now owns 816 shares of the medical equipment provider’s stock valued at $275,000 after buying an additional 62 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Intuitive Surgical by 58.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 8,315 shares of the medical equipment provider’s stock valued at $2,805,000 after buying an additional 3,054 shares during the period. Kades & Cheifetz LLC acquired a new position in shares of Intuitive Surgical in the fourth quarter valued at approximately $230,000. Blair William & Co. IL boosted its holdings in shares of Intuitive Surgical by 3.1% in the third quarter. Blair William & Co. IL now owns 377,371 shares of the medical equipment provider’s stock valued at $110,302,000 after buying an additional 11,400 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Intuitive Surgical by 21.2% in the third quarter. Assenagon Asset Management S.A. now owns 739,471 shares of the medical equipment provider’s stock valued at $216,140,000 after buying an additional 129,194 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Truist Financial boosted their price objective on shares of Intuitive Surgical from $390.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Raymond James boosted their price objective on shares of Intuitive Surgical from $372.00 to $435.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Robert W. Baird cut their price objective on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company boosted their price objective on shares of Intuitive Surgical from $363.00 to $416.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, Jefferies Financial Group upped their price target on shares of Intuitive Surgical from $365.00 to $375.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average target price of $396.17.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Robert Desantis sold 376 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $375.39, for a total transaction of $141,146.64. Following the completion of the transaction, the executive vice president now owns 5,507 shares in the company, valued at approximately $2,067,272.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Robert Desantis sold 376 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $375.39, for a total transaction of $141,146.64. Following the completion of the sale, the executive vice president now owns 5,507 shares of the company’s stock, valued at approximately $2,067,272.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President David J. Rosa sold 80,710 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $389.28, for a total transaction of $31,418,788.80. Following the sale, the president now directly owns 163,399 shares of the company’s stock, valued at approximately $63,607,962.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,967 shares of company stock worth $87,848,586. 0.80% of the stock is currently owned by insiders.

Intuitive Surgical Price Performance

NASDAQ ISRG traded down $3.52 during trading hours on Tuesday, reaching $370.62. The company’s stock had a trading volume of 1,212,524 shares, compared to its average volume of 1,644,877. Intuitive Surgical, Inc. has a 52 week low of $254.85 and a 52 week high of $403.76. The firm has a fifty day simple moving average of $386.10 and a 200-day simple moving average of $347.50. The stock has a market cap of $131.46 billion, a P/E ratio of 66.90, a P/E/G ratio of 4.85 and a beta of 1.36.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. Intuitive Surgical had a net margin of 27.16% and a return on equity of 12.91%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned $1.00 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that Intuitive Surgical, Inc. will post 4.8 earnings per share for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.