Biondo Investment Advisors LLC Has $61.48 Million Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Biondo Investment Advisors LLC reduced its stake in Intuitive Surgical, Inc. by 1.6%, selling 2,076 shares, now holding a total of 124,139 shares worth approximately $61.48 million.
• Insider selling activity includes significant transactions, with SVP Mark Brosius and Insider Gary S. Guthart reducing their positions by 19.23% and 37.44%, respectively.
• Analysts remain bullish on Intuitive Surgical, with thirteen rating the stock as a Buy and a consensus target price of $595.95, reflecting optimism about its future earnings performance.

Biondo Investment Advisors LLC cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,139 shares of the medical equipment provider's stock after selling 2,076 shares during the quarter. Intuitive Surgical makes up about 8.7% of Biondo Investment Advisors LLC's holdings, making the stock its biggest holding. Biondo Investment Advisors LLC's holdings in Intuitive Surgical were worth $61,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth about $26,000. Chilton Capital Management LLC grew its position in shares of Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after buying an additional 43 shares during the period. Global Financial Private Client LLC grew its position in shares of Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares during the period. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical in the 1st quarter worth about $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical in the 1st quarter worth about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the transaction, the senior vice president owned 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary S. Guthart sold 7,893 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the completion of the transaction, the insider owned 13,187 shares in the company, valued at $6,575,565.68. This trade represents a 37.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,839 shares of company stock worth $7,896,972 in the last quarter. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

ISRG opened at $476.16 on Friday. The stock has a market capitalization of $170.69 billion, a P/E ratio of 66.41, a P/E/G ratio of 4.92 and a beta of 1.59. The company's 50-day simple moving average is $504.42 and its two-hundred day simple moving average is $522.06. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

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 (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. Research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Piper Sandler reissued an "overweight" rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their price objective on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

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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