USA Financial Formulas Grows Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

USA Financial Formulas grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 90.6% during the first quarter, HoldingsChannel reports. The firm owned 4,476 shares of the medical equipment provider’s stock after acquiring an additional 2,128 shares during the period. Intuitive Surgical comprises about 0.4% of USA Financial Formulas’ investment portfolio, making the stock its 16th biggest holding. USA Financial Formulas’ holdings in Intuitive Surgical were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of ISRG. Brighton Jones LLC lifted its stake in Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after purchasing an additional 731 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth approximately $6,509,000. Kingsview Wealth Management LLC increased its holdings in shares of Intuitive Surgical by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 4,354 shares of the medical equipment provider’s stock worth $2,273,000 after buying an additional 94 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Intuitive Surgical by 8.9% during the 4th quarter. Stephens Inc. AR now owns 8,943 shares of the medical equipment provider’s stock worth $4,668,000 after buying an additional 732 shares during the last quarter. Finally, Bank of Stockton increased its holdings in shares of Intuitive Surgical by 13.5% during the 4th quarter. Bank of Stockton now owns 1,161 shares of the medical equipment provider’s stock worth $606,000 after buying an additional 138 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 0.7%

Intuitive Surgical stock opened at $529.60 on Wednesday. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The stock’s fifty day simple moving average is $523.08 and its 200-day simple moving average is $538.95. The firm has a market capitalization of $189.82 billion, a P/E ratio of 82.62, a P/E/G ratio of 5.85 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company earned $1.50 earnings per share. Sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ISRG. Piper Sandler cut their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada dropped their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Evercore ISI dropped their target price on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a report on Wednesday, April 23rd. Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Barclays dropped their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. One investment 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.com, the company has an average rating of “Moderate Buy” and an average target price of $588.95.

Insider Transactions at Intuitive Surgical

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. The trade was a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Desantis sold 11,545 shares of the business’s 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 transaction, the executive vice president now owns 5,224 shares of the company’s stock, valued at approximately $2,607,925.28. The trade was a 68.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,543 shares of company stock valued at $8,375,072. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Company 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.