Intuitive Surgical, Inc. $ISRG Shares Acquired by Smith Salley Wealth Management

Smith Salley Wealth Management boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,843 shares of the medical equipment provider’s stock after purchasing an additional 981 shares during the quarter. Smith Salley Wealth Management’s holdings in Intuitive Surgical were worth $2,613,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after buying an additional 670,302 shares during the last quarter. State Street Corp raised its stake in Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after acquiring an additional 182,871 shares during the period. Geode Capital Management LLC lifted its holdings in Intuitive Surgical by 1.4% in the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock worth $4,429,590,000 after acquiring an additional 109,904 shares during the last quarter. Norges Bank acquired a new position in Intuitive Surgical in the second quarter valued at approximately $2,569,260,000. Finally, Invesco Ltd. grew its holdings in shares of Intuitive Surgical by 4.8% during the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock valued at $2,402,488,000 after purchasing an additional 201,159 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

ISRG stock opened at $572.63 on Wednesday. The firm has a market cap of $205.27 billion, a PE ratio of 75.74, a P/E/G ratio of 5.26 and a beta of 1.68. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The firm has a 50 day simple moving average of $560.07 and a 200 day simple moving average of $507.87.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $1.84 EPS. The company’s revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the transaction, the senior vice president directly owned 907 shares of the company’s stock, valued at approximately $496,455.52. The trade was a 83.23% 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, CEO David J. Rosa sold 24,500 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the completion of the sale, the chief executive officer owned 234,256 shares of the company’s stock, valued at approximately $128,266,872.80. The trade was a 9.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 114,007 shares of company stock worth $63,533,844. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ISRG. Citigroup downgraded Intuitive Surgical from a “buy” rating to a “neutral” rating and cut their price target for the stock from $650.00 to $635.00 in a report on Thursday, December 11th. Argus increased their target price on Intuitive Surgical from $600.00 to $630.00 in a research report on Monday, October 27th. Wells Fargo & Company boosted their price target on shares of Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday. Finally, Piper Sandler increased their price objective on shares of Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $611.08.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.