Alpha Cubed Investments LLC Has $32.70 Million Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Alpha Cubed Investments LLC trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 30.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,033 shares of the medical equipment provider's stock after selling 28,615 shares during the period. Intuitive Surgical accounts for approximately 1.5% of Alpha Cubed Investments LLC's holdings, making the stock its 19th largest holding. Alpha Cubed Investments LLC's holdings in Intuitive Surgical were worth $32,704,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Atala Financial Inc bought a new stake in shares of Intuitive Surgical during the fourth quarter worth $25,000. Hurley Capital LLC bought a new stake in Intuitive Surgical during the 4th quarter worth about $28,000. Parvin Asset Management LLC acquired a new position in Intuitive Surgical during the 4th quarter valued at about $26,000. Chilton Capital Management LLC lifted its position in 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 purchasing an additional 43 shares during the period. Finally, Global Financial Private Client LLC boosted its stake in shares of Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

ISRG has been the topic of several analyst reports. Piper Sandler cut their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Robert W. Baird cut their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada cut their price objective on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays cut their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $592.59.

Intuitive Surgical Trading Up 0.5%

Shares of ISRG stock traded up $2.44 during trading hours on Wednesday, hitting $529.74. 532,308 shares of the company were exchanged, compared to its average volume of 1,667,668. The business has a 50 day moving average of $537.77 and a two-hundred day moving average of $536.93. Intuitive Surgical, Inc. has a 52 week low of $413.82 and a 52 week high of $616.00. The company has a market capitalization of $189.87 billion, a PE ratio of 77.66, a PEG ratio of 5.67 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $1.50 EPS. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity

In other news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the sale, the executive vice president directly owned 5,224 shares of the company's stock, valued at $2,695,113.84. The trade was a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,998 shares of company stock worth $2,611,577. 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.