Hardy Reed LLC Takes Position in Intuitive Surgical, Inc. $ISRG

Hardy Reed LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 388 shares of the medical equipment provider’s stock, valued at approximately $211,000.

Several other institutional investors have also added to or reduced their stakes in ISRG. Chilton Capital Management LLC boosted its stake in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Elite Financial Inc. purchased a new position in shares of Intuitive Surgical in the first quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical during the first quarter worth $30,000. TD Capital Management LLC grew its holdings in shares of Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 45 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in shares of Intuitive Surgical in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In related news, EVP Myriam Curet sold 4,500 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock worth $21,716,492 over the last three months. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ISRG. The Goldman Sachs Group lowered their price target on Intuitive Surgical from $621.00 to $567.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Truist Financial boosted their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Evercore ISI raised their target price on Intuitive Surgical from $470.00 to $550.00 and gave the company an “in-line” rating in a research report on Tuesday, July 8th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average target price of $594.19.

Intuitive Surgical Trading Down 0.6%

NASDAQ:ISRG opened at $449.69 on Tuesday. The firm has a market cap of $161.20 billion, a P/E ratio of 62.72, a price-to-earnings-growth ratio of 4.74 and a beta of 1.61. The stock has a 50 day moving average of $462.67 and a two-hundred day moving average of $499.82. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping the consensus estimate of $1.93 by $0.26. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 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.