Belmont Capital LLC Takes $594,000 Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Belmont Capital LLC has established a new position in Intuitive Surgical, Inc., acquiring 1,200 shares valued at approximately $594,000.
• Institutional ownership of Intuitive Surgical is substantial, with 83.64% of the stock held by institutional investors, reflecting confidence in the company's performance.
• Intuitive Surgical posted earnings of $2.19 per share for the latest quarter, exceeding estimates and demonstrating a year-over-year revenue growth of 21.4%.

Belmont Capital LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,200 shares of the medical equipment provider's stock, valued at approximately $594,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after buying an additional 731 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Intuitive Surgical by 0.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after purchasing an additional 883 shares in the last quarter. Algert Global LLC grew its stake in shares of Intuitive Surgical by 115.7% during the fourth quarter. Algert Global LLC now owns 8,727 shares of the medical equipment provider's stock valued at $4,555,000 after purchasing an additional 4,681 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Intuitive Surgical by 23.4% in the fourth quarter. Baird Financial Group Inc. now owns 45,118 shares of the medical equipment provider's stock valued at $23,550,000 after purchasing an additional 8,551 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $220,000. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $469.07 on Wednesday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market cap of $168.15 billion, a P/E ratio of 65.42, a P/E/G ratio of 4.96 and a beta of 1.61. The firm has a 50 day moving average price of $498.54 and a 200 day moving average price of $515.81.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted 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 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 analyst estimates of $2.35 billion. During the same period last year, the business posted $1.78 earnings per share. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. Analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

ISRG has been the subject of a number of recent research reports. Piper Sandler restated an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a report on Tuesday, August 19th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. BTIG Research lifted their price target on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at $173,845.44. The trade was a 92.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president directly owned 907 shares of the company's stock, valued at approximately $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,769 shares of company stock valued at $21,532,536 over the last 90 days. 0.70% of the stock is owned by company 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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