MV Capital Management Inc. Boosts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

MV Capital Management Inc. grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 92.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 532 shares of the medical equipment provider’s stock after acquiring an additional 256 shares during the period. MV Capital Management Inc.’s holdings in Intuitive Surgical were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ISRG. Brighton Jones LLC lifted its position in shares of Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after acquiring an additional 731 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Intuitive Surgical in the fourth quarter worth $6,509,000. Kingsview Wealth Management LLC increased its holdings in shares of Intuitive Surgical by 2.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 4,354 shares of the medical equipment provider’s stock worth $2,273,000 after purchasing an additional 94 shares during the period. Stephens Inc. AR increased its holdings in shares of Intuitive Surgical by 8.9% in the fourth quarter. Stephens Inc. AR now owns 8,943 shares of the medical equipment provider’s stock worth $4,668,000 after purchasing an additional 732 shares during the period. Finally, Bank of Stockton increased its holdings in shares of Intuitive Surgical by 13.5% in the fourth quarter. Bank of Stockton now owns 1,161 shares of the medical equipment provider’s stock worth $606,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.7%

NASDAQ ISRG opened at $529.60 on Wednesday. The company has a 50-day simple moving average of $523.08 and a two-hundred day simple moving average of $538.95. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00. The firm has a market cap of $189.82 billion, a price-to-earnings ratio of 82.62, a PEG ratio of 5.85 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business posted $1.50 earnings per share. Equities analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler decreased their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Truist Financial decreased their price target on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. BTIG Research set a $560.00 price target on shares of Intuitive Surgical and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $588.95.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Robert Desantis sold 11,545 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the sale, the executive vice president now directly owns 5,224 shares in the company, valued at approximately $2,607,925.28. This represents a 68.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gary Loeb sold 1,700 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $513.18, for a total transaction of $872,406.00. Following the sale, the executive vice president now owns 2,245 shares of the company’s stock, valued at approximately $1,152,089.10. This represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,543 shares of company stock worth $8,375,072 over the last three months. Company insiders own 0.70% of the company’s stock.

Intuitive Surgical Profile

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.