Accuvest Global Advisors Takes $763,000 Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Accuvest Global Advisors has acquired a new position in Intuitive Surgical, purchasing 1,540 shares valued at approximately $763,000.
• Insider trading activity includes notable sales by Mark Brosius and Myriam Curet, who sold 216 and 4,500 shares, respectively, indicating a significant decrease in their stock ownership.
• Analysts have mixed views on Intuitive Surgical, with Royal Bank of Canada raising its price target to $615, while Deutsche Bank downgraded its rating from "hold" to "sell".

Accuvest Global Advisors purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,540 shares of the medical equipment provider's stock, valued at approximately $763,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC bought a new stake in Intuitive Surgical in the 4th quarter worth about $26,000. Chilton Capital Management LLC grew its position in shares of Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the period. Global Financial Private Client LLC grew its position in shares of Intuitive Surgical by 253.3% during the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 38 shares during the period. Elite Financial Inc. bought a new position in shares of Intuitive Surgical during the 1st quarter valued at approximately $26,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Intuitive Surgical during the 1st quarter valued at approximately $30,000. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Trading Up 0.1%

Shares of Intuitive Surgical stock traded up $0.27 on Friday, hitting $470.08. 1,445,546 shares of the company traded hands, compared to its average volume of 2,319,941. The firm's 50-day simple moving average is $516.52 and its 200 day simple moving average is $529.35. The company has a market cap of $168.51 billion, a P/E ratio of 65.56, a P/E/G ratio of 4.92 and a beta of 1.59. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $1.78 EPS. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. Analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. BTIG Research increased their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Truist Financial raised their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $595.95.

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary S. Guthart sold 7,893 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the transaction, the insider directly owned 13,187 shares in the company, valued at approximately $6,575,565.68. This represents a 37.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,903 shares of company stock valued at $7,932,778. Insiders own 0.70% of the company's stock.

About Intuitive Surgical

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.