SteelPeak Wealth LLC Purchases 45,777 Shares of Intuitive Surgical, Inc. $ISRG

SteelPeak Wealth LLC boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 451.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 55,906 shares of the medical equipment provider’s stock after purchasing an additional 45,777 shares during the period. Intuitive Surgical comprises 0.8% of SteelPeak Wealth LLC’s holdings, making the stock its 27th largest position. SteelPeak Wealth LLC’s holdings in Intuitive Surgical were worth $25,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Newbridge Financial Services Group Inc. raised its stake in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $25,000. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. increased its holdings in shares of 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 acquiring an additional 50 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

ISRG stock opened at $402.33 on Friday. The stock has a market capitalization of $142.49 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 3.16 and a beta of 1.46. The business’s fifty day moving average price is $417.37 and its two-hundred day moving average price is $468.74. Intuitive Surgical, Inc. has a fifty-two week low of $378.50 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion during 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%.The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 earnings per share. Research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research reports. TD Cowen cut their price target on Intuitive Surgical from $585.00 to $520.00 and set a “buy” rating for the company in a report on Monday. HSBC decreased their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Stifel Nicolaus set a $670.00 target price on shares of Intuitive Surgical in a research note on Tuesday. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Bank of America decreased their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $562.62.

Intuitive Surgical News Roundup

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 that occurred on Monday, June 1st. The stock was 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 $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,169 shares of company stock valued at $3,059,135. 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.