iA Global Asset Management Inc. reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 3.3% during the first quarter, Holdings Channel reports. The institutional investor owned 42,678 shares of the medical equipment provider’s stock after selling 1,447 shares during the period. iA Global Asset Management Inc.’s holdings in Intuitive Surgical were worth $19,674,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Pacific Financial grew its stake in Intuitive Surgical by 105.6% in the first quarter. First Pacific Financial now owns 111 shares of the medical equipment provider’s stock valued at $51,000 after acquiring an additional 57 shares during the period. MQS Management LLC bought a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $513,000. Eagle Wealth Advisors LLC raised its position in shares of Intuitive Surgical by 15.7% during the first quarter. Eagle Wealth Advisors LLC now owns 1,237 shares of the medical equipment provider’s stock worth $570,000 after purchasing an additional 168 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of Intuitive Surgical by 7.8% during the first quarter. Premier Path Wealth Partners LLC now owns 3,119 shares of the medical equipment provider’s stock worth $1,438,000 after purchasing an additional 225 shares during the period. Finally, Mayflower Financial Advisors LLC lifted its holdings in shares of Intuitive Surgical by 5.8% in the 1st quarter. Mayflower Financial Advisors LLC now owns 491 shares of the medical equipment provider’s stock worth $226,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on ISRG shares. Robert W. Baird lifted their price target on shares of Intuitive Surgical from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Piper Sandler restated an “overweight” rating and set a $580.00 price objective on shares of Intuitive Surgical in a report on Tuesday, June 2nd. Evercore dropped their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Finally, BTIG Research reissued a “buy” rating and set a $574.00 target price on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $573.42.
Intuitive Surgical Stock Down 2.0%
Shares of NASDAQ:ISRG opened at $397.68 on Wednesday. The business’s 50 day moving average is $430.20 and its 200 day moving average is $481.84. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88. The stock has a market cap of $140.84 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 3.30 and a beta of 1.46.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.
Insider Activity
In related news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director directly owned 120 shares of the company’s stock, valued at $55,620. The trade was a 49.79% decrease in their ownership of the stock. 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. Insiders sold a total of 7,169 shares of company stock worth $3,059,135 over the last quarter. Insiders own 0.60% of the company’s stock.
About Intuitive Surgical
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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