Proficio Capital Partners LLC Acquires Shares of 1,785 Intuitive Surgical, Inc. $ISRG

Proficio Capital Partners LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the second quarter, according to its most recent filing with the SEC. The fund bought 1,785 shares of the medical equipment provider’s stock, valued at approximately $710,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prosperity Consulting Group LLC grew its position in Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock valued at $1,804,000 after buying an additional 19 shares during the period. Valeo Financial Advisors LLC raised its position in Intuitive Surgical by 0.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 4,941 shares of the medical equipment provider’s stock worth $2,798,000 after acquiring an additional 21 shares during the period. Dana Investment Advisors Inc. boosted its stake in Intuitive Surgical by 1.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 1,140 shares of the medical equipment provider’s stock valued at $646,000 after acquiring an additional 21 shares during the last quarter. Forefront Wealth Partners LLC boosted its stake in Intuitive Surgical by 2.6% in the fourth quarter. Forefront Wealth Partners LLC now owns 819 shares of the medical equipment provider’s stock valued at $464,000 after acquiring an additional 21 shares during the last quarter. Finally, High Note Wealth LLC grew its position in shares of Intuitive Surgical by 50.0% during the 4th quarter. High Note Wealth LLC now owns 69 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 23 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ISRG. Wells Fargo & Company restated an “overweight” rating and set a $487.00 price target (down from $654.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Mizuho set a $500.00 price objective on Intuitive Surgical and gave the company a “neutral” rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. Wall Street Zen lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, HSBC cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target on the stock. in a research report on Thursday, July 30th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $508.68.

Intuitive Surgical Trading Down 2.0%

ISRG opened at $369.25 on Wednesday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The company has a market cap of $130.45 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 2.72 and a beta of 1.47. The company has a 50 day moving average of $383.40 and a 200 day moving average of $430.61.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.32. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 earnings per share. Research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Insider Activity

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the executive vice president directly owned 5,320 shares in the company, valued at $2,016,280. This represents a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 881 shares of the company’s stock, valued at approximately $330,877.17. The trade was a 8.04% 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. In the last three months, insiders sold 11,658 shares of company stock valued at $4,649,835. Corporate 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.