Strategic Financial Concepts LLC Makes New Investment in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Strategic Financial Concepts LLC purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 660 shares of the medical equipment provider’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently made changes to their positions in ISRG. Norges Bank bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $1,313,238,000. WCM Investment Management LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at $575,536,000. International Assets Investment Management LLC raised its position in shares of Intuitive Surgical by 32,360.5% in the 4th quarter. International Assets Investment Management LLC now owns 686,865 shares of the medical equipment provider’s stock worth $231,721,000 after acquiring an additional 684,749 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of Intuitive Surgical by 113.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,276,158 shares of the medical equipment provider’s stock worth $430,525,000 after acquiring an additional 677,455 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Intuitive Surgical during the 3rd quarter worth $178,667,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Down 0.9 %

Shares of NASDAQ ISRG traded down $3.52 during midday trading on Tuesday, reaching $370.62. 1,212,524 shares of the stock were exchanged, compared to its average volume of 1,644,877. The firm has a market cap of $131.46 billion, a price-to-earnings ratio of 66.90, a PEG ratio of 4.85 and a beta of 1.36. The firm has a 50-day simple moving average of $385.96 and a two-hundred day simple moving average of $348.19. Intuitive Surgical, Inc. has a twelve month low of $254.85 and a twelve month high of $403.76.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Intuitive Surgical had a net margin of 27.16% and a return on equity of 12.91%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $1.00 earnings per share. Research analysts expect that Intuitive Surgical, Inc. will post 4.8 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, EVP Robert Desantis sold 1,498 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $369.92, for a total value of $554,140.16. Following the completion of the sale, the executive vice president now owns 5,507 shares of the company’s stock, valued at approximately $2,037,149.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Mark Brosius sold 196 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $400.00, for a total value of $78,400.00. Following the transaction, the senior vice president now owns 1,842 shares in the company, valued at $736,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 1,498 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $369.92, for a total transaction of $554,140.16. Following the completion of the transaction, the executive vice president now directly owns 5,507 shares of the company’s stock, valued at approximately $2,037,149.44. The disclosure for this sale can be found here. Insiders sold a total of 226,967 shares of company stock valued at $87,848,586 in the last three months. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ISRG shares. Royal Bank of Canada increased their price target on shares of Intuitive Surgical from $400.00 to $432.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Mizuho raised their target price on shares of Intuitive Surgical from $350.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Robert W. Baird reduced their price target on Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Stifel Nicolaus increased their price objective on Intuitive Surgical from $420.00 to $430.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, BTIG Research boosted their target price on Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $396.17.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.