Wealthfront Advisers LLC Raises Stock Position in Intuitive Surgical, Inc. $ISRG

Wealthfront Advisers LLC raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 47,988 shares of the medical equipment provider’s stock after acquiring an additional 1,732 shares during the quarter. Wealthfront Advisers LLC’s holdings in Intuitive Surgical were worth $22,122,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ISRG. Brighton Jones LLC grew its stake in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after buying an additional 731 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock valued at $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock worth $529,000 after acquiring an additional 268 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Intuitive Surgical in the second quarter worth about $200,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock worth $1,592,000 after acquiring an additional 1,407 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Intuitive Surgical

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on ISRG shares. Robert W. Baird upped their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Piper Sandler reissued an “overweight” rating and set a $580.00 target price on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Raymond James Financial cut their price target on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Truist Financial decreased their price target on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a report on Thursday. Finally, Jefferies Financial Group lowered their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $562.62.

Intuitive Surgical Stock Up 3.4%

Intuitive Surgical stock opened at $402.33 on Friday. Intuitive Surgical, Inc. has a 52 week low of $378.50 and a 52 week high of $603.88. The company has a market capitalization of $142.49 billion, a price-to-earnings ratio of 48.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46. The stock has a 50-day moving average price of $417.37 and a 200 day moving average price of $468.74.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Intuitive Surgical’s quarterly revenue was up 23.0% on a year-over-year basis. Research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the company’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 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, 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 transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% 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. In the last ninety days, insiders sold 7,169 shares of company stock worth $3,059,135. Company 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.