State of Alaska Department of Revenue trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 3.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 33,466 shares of the medical equipment provider’s stock after selling 1,236 shares during the period. State of Alaska Department of Revenue’s holdings in Intuitive Surgical were worth $13,608,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Main Street Group LTD purchased a new stake in Intuitive Surgical during the first quarter worth about $30,000. North Point Portfolio Managers Corp OH bought a new position in Intuitive Surgical in the 3rd quarter worth about $27,000. Vermillion Wealth Management Inc. grew its stake in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 25 shares in the last quarter. Evergreen Advisors LLC bought a new position in shares of Intuitive Surgical in the first quarter worth $35,000. Finally, Compass Financial Management LLC bought a new position in Intuitive Surgical in the 2nd quarter worth about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Intuitive Surgical
In other Intuitive Surgical news, EVP Mark Brosius sold 77 shares of Intuitive Surgical stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $375.57, for a total transaction of $28,918.89. Following the transaction, the executive vice president owned 881 shares of the company’s stock, valued at $330,877.17. The trade was a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 1,089 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $374.44, for a total transaction of $407,765.16. Following the completion of the transaction, the vice president directly owned 1,026 shares of the company’s stock, valued at $384,175.44. This represents a 51.49% 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. Insiders sold 12,370 shares of company stock valued at $4,891,989 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Analysts Set New Price Targets
ISRG has been the subject of a number of research analyst reports. TD Cowen downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Evercore set a $430.00 price target on shares of Intuitive Surgical in a research report on Monday, July 6th. BTIG Research reduced their target price on Intuitive Surgical from $469.00 to $454.00 and set a “buy” rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Sunday, September 20th. Finally, Stifel Nicolaus lowered their price objective on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average price target of $498.83.
Get Our Latest Stock Analysis on ISRG
Intuitive Surgical Stock Performance
Shares of ISRG traded up $5.95 during mid-day trading on Thursday, hitting $426.19. 874,183 shares of the company traded hands, compared to its average volume of 2,402,024. The stock has a market cap of $150.56 billion, a price-to-earnings ratio of 48.81, a P/E/G ratio of 3.18 and a beta of 1.46. The stock has a 50-day moving average price of $389.39 and a two-hundred day moving average price of $409.80. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the business posted $1.81 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, analysts forecast that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.
About Intuitive Surgical
Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company’s products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.
Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.
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