Atria Investments Inc Increases Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Atria Investments increased its stake in Intuitive Surgical by 21.8% in the fourth quarter, adding 6,440 shares to bring its total to 35,939 shares worth about $20.35 million.
• Wall Street remains broadly positive on ISRG, with 18 analysts rating it Buy and an average price target of $581.91, even as some firms trimmed their targets in recent reports.
• Intuitive Surgical posted strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.77 billion rising 23% year over year.

Atria Investments Inc increased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,939 shares of the medical equipment provider's stock after purchasing an additional 6,440 shares during the quarter. Atria Investments Inc's holdings in Intuitive Surgical were worth $20,354,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. boosted its holdings in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares during the period. Greykasell Wealth Strategies Inc. bought a new position in Intuitive Surgical in the 3rd quarter valued at $27,000. Olistico Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at $28,000. Finally, Caitlin John LLC bought a new position in Intuitive Surgical in the 3rd quarter valued at $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ISRG has been the topic of several research analyst reports. Robert W. Baird upped their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Evercore dropped their target price on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Piper Sandler dropped their target price on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. TD Cowen dropped their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. Finally, Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective for the company in a report on Wednesday, March 11th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $581.91.

Insider Buying and Selling

In related news, EVP Myriam Curet sold 105 shares of Intuitive Surgical stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Monday, May 11th. The stock was sold at an average price of $446.95, for a total transaction of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares in the company, valued at approximately $2,735,334. The trade was a 6.13% 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. Insiders have sold 5,647 shares of company stock worth $2,760,359 over the last 90 days. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

ISRG stock opened at $432.27 on Thursday. The company has a market capitalization of $153.09 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 3.45 and a beta of 1.51. Intuitive Surgical, Inc. has a one year low of $417.74 and a one year high of $603.88. The company's 50 day moving average price is $466.62 and its two-hundred day moving average price is $515.53.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business's revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $1.81 earnings per share. On average, research analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

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.

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