Peapack Gladstone Financial Corp grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 13.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,584 shares of the medical equipment provider’s stock after purchasing an additional 2,136 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Intuitive Surgical were worth $10,525,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ISRG. Draper Asset Management LLC lifted its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after buying an additional 1,485 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Intuitive Surgical by 19.3% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock valued at $10,179,000 after buying an additional 3,676 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Intuitive Surgical by 0.6% during the 3rd quarter. AGF Management Ltd. now owns 464,179 shares of the medical equipment provider’s stock valued at $207,595,000 after buying an additional 2,575 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of Intuitive Surgical by 787.8% during the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock valued at $2,715,000 after buying an additional 4,254 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock valued at $40,255,000 after buying an additional 16,119 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Citigroup raised Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective on the stock in a research report on Wednesday, March 11th. Raymond James Financial lowered their price target on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Argus lowered their price target on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. JPMorgan Chase & Co. lowered their price target on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Evercore lowered their price target on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $576.71.
Intuitive Surgical Stock Down 2.9%
NASDAQ ISRG opened at $412.26 on Tuesday. The company has a fifty day moving average of $452.19 and a two-hundred day moving average of $504.81. The firm has a market capitalization of $146.01 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.39 and a beta of 1.46. Intuitive Surgical, Inc. has a 52 week low of $411.83 and a 52 week high of $603.88.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.81 EPS. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.
Insiders Place Their Bets
In other Intuitive Surgical news, EVP Myriam Curet sold 105 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total value of $51,864.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the transaction, the executive vice president directly owned 6,120 shares in the company, valued at $2,735,334. This trade represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 4,833 shares of company stock worth $2,357,582. Insiders own 0.60% of the company’s stock.
Intuitive Surgical 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.
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