4,259 Shares in Intuitive Surgical, Inc. $ISRG Purchased by Spartan Wealth Advisory Services LLC

Key Points

• Spartan Wealth Advisory Services opened a new position in Intuitive Surgical during the first quarter, buying 4,259 shares worth about $1.96 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 83.64% of the company’s stock.
• Analysts are mostly constructive despite recent price-target cuts: the stock has a consensus rating of “Moderate Buy” with an average target price of $523.46, even as shares recently traded down sharply.

Spartan Wealth Advisory Services LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 4,259 shares of the medical equipment provider's stock, valued at approximately $1,963,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Quadrant Private Wealth Management LLC raised its stake in Intuitive Surgical by 21.0% in the first quarter. Quadrant Private Wealth Management LLC now owns 869 shares of the medical equipment provider's stock worth $401,000 after buying an additional 151 shares in the last quarter. Kesler Norman & Wride LLC lifted its holdings in Intuitive Surgical by 20.3% during the first quarter. Kesler Norman & Wride LLC now owns 2,540 shares of the medical equipment provider's stock worth $1,171,000 after buying an additional 429 shares during the period. Heartland Bank & Trust Co boosted its position in Intuitive Surgical by 2.1% during the 1st quarter. Heartland Bank & Trust Co now owns 2,016 shares of the medical equipment provider's stock valued at $929,000 after acquiring an additional 42 shares in the last quarter. Kera Capital Partners Inc. boosted its position in Intuitive Surgical by 2.5% during the 1st quarter. Kera Capital Partners Inc. now owns 1,063 shares of the medical equipment provider's stock valued at $490,000 after acquiring an additional 26 shares in the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in shares of Intuitive Surgical by 11.3% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,543 shares of the medical equipment provider's stock valued at $711,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ISRG. Deutsche Bank Aktiengesellschaft reduced their price target on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a research report on Tuesday, June 2nd. Jefferies Financial Group cut their target price on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research note on Wednesday, April 22nd. TD Cowen reduced their target price on shares of Intuitive Surgical from $585.00 to $520.00 and set a "buy" rating for the company in a report on Monday, July 13th. Truist Financial reduced their target price 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, BMO Capital Markets started coverage on shares of Intuitive Surgical in a research report on Wednesday, July 8th. They set an "outperform" rating and a $518.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $523.46.

Insider Buying and Selling at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the business's stock in a transaction dated 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 sale, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% 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. Over the last ninety days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by insiders.

Intuitive Surgical Trading Down 14.1%

Shares of ISRG stock opened at $345.42 on Friday. Intuitive Surgical, Inc. has a 12-month low of $344.55 and a 12-month high of $603.88. The business's fifty day simple moving average is $415.28 and its 200-day simple moving average is $467.88. The company has a market cap of $122.33 billion, a PE ratio of 39.57, a PEG ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data 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. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter last year, the firm earned $1.81 EPS. The business's quarterly revenue was up 23.0% on a year-over-year basis. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 8.62 earnings per share for the current year.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Intuitive Surgical Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.