GAMMA Investing LLC Sells 2,077 Shares of Intuitive Surgical, Inc. $ISRG

GAMMA Investing LLC lessened its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 23.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,956 shares of the medical equipment provider’s stock after selling 2,077 shares during the quarter. GAMMA Investing LLC’s holdings in Intuitive Surgical were worth $2,766,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. raised its holdings in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares during the period. Main Street Group LTD acquired a new position in Intuitive Surgical in the 1st quarter worth $30,000. Laurel Wealth Advisors LLC acquired a new position in Intuitive Surgical in the 4th quarter worth $31,000. Vermillion Wealth Management Inc. increased its holdings in Intuitive Surgical by 58.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 25 shares in the last quarter. Finally, Turning Point Benefit Group Inc. increased its holdings in Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America cut their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. UBS Group started coverage on Intuitive Surgical in a report on Tuesday, July 28th. They set a “neutral” rating and a $500.00 price objective for the company. Robert W. Baird dropped their target price on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Truist Financial cut their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Finally, Sanford C. Bernstein reduced their price target on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Twenty analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.02.

Intuitive Surgical Stock Up 1.9%

Shares of NASDAQ ISRG opened at $375.20 on Thursday. The business’s 50 day moving average price is $394.78 and its two-hundred day moving average price is $447.39. The company has a market cap of $132.55 billion, a PE ratio of 42.98, a price-to-earnings-growth ratio of 2.66 and a beta of 1.46. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the firm posted $1.81 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts anticipate that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents a 46.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,634 shares of company stock worth $2,796,795. 0.60% of the stock is owned by company insiders.

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.