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Balboa Wealth Partners Purchases 674 Shares of Intuitive Surgical, Inc. $ISRG

Intuitive Surgical logo with Medical background

Key Points

  • Balboa Wealth Partners increased its stake in Intuitive Surgical by 46.3%, acquiring an additional 674 shares, bringing its total holdings to 2,130 shares valued at approximately $1,157,000.
  • Analysts have adjusted their price targets for Intuitive Surgical, with the average target now at $580.29, while most analysts maintain a consensus rating of "Moderate Buy".
  • Intuitive Surgical reported strong quarterly earnings, with a revenue of $2.44 billion, and earnings per share of $2.19, surpassing analysts' expectations.
  • MarketBeat previews top five stocks to own in November.

Balboa Wealth Partners raised its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 46.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,130 shares of the medical equipment provider's stock after acquiring an additional 674 shares during the period. Balboa Wealth Partners' holdings in Intuitive Surgical were worth $1,157,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after acquiring an additional 453,335 shares during the period. Invesco Ltd. boosted its stake in shares of Intuitive Surgical by 1.7% in the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock valued at $2,090,027,000 after buying an additional 71,794 shares during the period. Northern Trust Corp boosted its stake in shares of Intuitive Surgical by 0.3% in the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock valued at $1,798,465,000 after buying an additional 11,988 shares during the period. Wellington Management Group LLP boosted its stake in shares of Intuitive Surgical by 15.0% in the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock valued at $1,732,975,000 after buying an additional 457,080 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Intuitive Surgical in the first quarter valued at approximately $1,715,899,000. Institutional investors own 83.64% of the company's stock.

Analysts Set New Price Targets

ISRG has been the subject of several recent research reports. UBS Group set a $529.00 price target on Intuitive Surgical in a research note on Monday, October 13th. The Goldman Sachs Group cut their price target on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research note on Wednesday, October 1st. Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI cut their target price on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research note on Tuesday, October 7th. Fourteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $580.29.

View Our Latest Report on Intuitive Surgical

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $446.13 on Monday. The business has a fifty day moving average price of $454.97 and a two-hundred day moving average price of $495.76. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The stock has a market capitalization of $159.93 billion, a PE ratio of 62.22, a PEG ratio of 4.69 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The company's quarterly revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of the company's 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 completion of the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy L. Ladd sold 336 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares of the company's stock, valued at $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,224 shares of company stock worth $21,716,492. Corporate insiders own 0.70% of the company's stock.

About Intuitive Surgical

(Free Report)

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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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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