Atria Wealth Solutions Inc. Sells 2,992 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Intuitive Surgical, Inc. by 40.5%, now holding 4,402 shares valued at approximately $2.39 million.
• Several brokerages have adjusted their price targets for Intuitive Surgical, with Wells Fargo raising its target to $599, while BTIG Research lowered it to $529.
• Intuitive Surgical reported strong earnings, with $2.19 EPS for the quarter and a significant revenue increase of 21.4% year over year.

Atria Wealth Solutions Inc. decreased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 40.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,402 shares of the medical equipment provider's stock after selling 2,992 shares during the period. Atria Wealth Solutions Inc.'s holdings in Intuitive Surgical were worth $2,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC grew its stake in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the first quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical in the first quarter worth $30,000. TD Capital Management LLC grew its stake in shares of Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 45 shares during the last quarter. Finally, 1248 Management LLC acquired a new stake in shares of Intuitive Surgical in the first quarter worth $30,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ISRG. BTIG Research lowered their price objective on shares of Intuitive Surgical from $571.00 to $529.00 and set a "buy" rating on the stock in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. UBS Group set a $529.00 price target on shares of Intuitive Surgical in a research note on Monday. Finally, Truist Financial decreased their price target on shares of Intuitive Surgical from $600.00 to $525.00 and set a "buy" rating on the stock in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $582.14.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $435.61 on Thursday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company's fifty day moving average is $456.15 and its 200-day moving average is $496.60. The company has a market capitalization of $156.16 billion, a PE ratio of 60.75, a P/E/G ratio of 4.58 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued 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 the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The firm's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity

In other news, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the sale, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy L. Ladd sold 335 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director owned 739 shares in the company, valued at $325,669.91. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,224 shares of company stock worth $21,716,492. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Profile

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.

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