Balance Wealth LLC Buys Shares of 2,469 Intuitive Surgical, Inc. (NASDAQ:ISRG)

Balance Wealth LLC purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,469 shares of the medical equipment provider's stock, valued at approximately $1,223,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ISRG. Atala Financial Inc bought a new position in Intuitive Surgical in the fourth quarter valued at about $25,000. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $26,000. Global Financial Private Client LLC grew its position in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares during the period. BankPlus Trust Department bought a new stake in Intuitive Surgical during the fourth quarter valued at approximately $28,000. Finally, Hurley Capital LLC purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $28,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ISRG. Piper Sandler dropped their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Barclays lowered their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Truist Financial reduced their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Finally, Robert W. Baird lowered their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus target price of $588.95.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $523.08 on Wednesday. The company has a market cap of $187.48 billion, a P/E ratio of 76.70, a P/E/G ratio of 5.46 and a beta of 1.67. Intuitive Surgical, Inc. has a 52-week low of $413.82 and a 52-week high of $616.00. The firm's fifty day moving average is $529.22 and its two-hundred day moving average is $536.97.

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

Insiders Place Their Bets

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the sale, the director now directly owns 6,371 shares in the company, valued at $3,312,920. The trade was a 27.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The stock was 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 now owns 907 shares of the company's stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,998 shares of company stock valued at $2,611,577 in the last quarter. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Company 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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