Miracle Mile Advisors LLC Acquires 35 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Miracle Mile Advisors LLC grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983 shares of the medical equipment provider’s stock after acquiring an additional 35 shares during the period. Miracle Mile Advisors LLC’s holdings in Intuitive Surgical were worth $982,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ISRG. Norges Bank purchased a new position in Intuitive Surgical during the 4th quarter valued at about $2,401,493,000. GAMMA Investing LLC boosted its position in shares of Intuitive Surgical by 54,010.7% in the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider’s stock valued at $14,999,630,000 after acquiring an additional 3,022,979 shares during the period. Proficio Capital Partners LLC grew its stake in Intuitive Surgical by 89,098.8% during the fourth quarter. Proficio Capital Partners LLC now owns 949,967 shares of the medical equipment provider’s stock valued at $495,845,000 after acquiring an additional 948,902 shares in the last quarter. Capital Research Global Investors increased its holdings in Intuitive Surgical by 25.5% during the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider’s stock worth $1,764,904,000 after acquiring an additional 687,906 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Intuitive Surgical during the 4th quarter worth approximately $313,769,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ISRG shares. Robert W. Baird reduced their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI dropped their price objective on Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research note on Wednesday, April 23rd. Citigroup restated a “buy” rating and set a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Barclays lowered their price target on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, BTIG Research set a $560.00 price objective on Intuitive Surgical and gave the stock a “buy” rating in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $588.95.

Intuitive Surgical Stock Performance

ISRG stock opened at $526.15 on Tuesday. The company has a market capitalization of $188.58 billion, a PE ratio of 82.08, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. Intuitive Surgical, Inc. has a one year low of $413.52 and a one year high of $616.00. The company’s 50 day moving average price is $522.38 and its two-hundred day moving average price is $539.01.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same quarter last year, the firm earned $1.50 EPS. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 215 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $549.06, for a total value of $118,047.90. Following the transaction, the senior vice president now owns 1,768 shares in the company, valued at approximately $970,738.08. This trade represents a 10.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the transaction, the executive vice president now directly owns 5,224 shares in the company, valued at approximately $2,607,925.28. The trade was a 68.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,543 shares of company stock worth $8,375,072. Company insiders own 0.70% of the company’s stock.

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.