CMC Financial Group Takes $258,000 Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

CMC Financial Group acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 521 shares of the medical equipment provider's stock, valued at approximately $258,000. Intuitive Surgical accounts for about 0.6% of CMC Financial Group's portfolio, making the stock its 26th largest position.

A number of other hedge funds also recently modified their holdings of ISRG. Norges Bank acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $2,401,493,000. GAMMA Investing LLC raised its stake in Intuitive Surgical by 54,010.7% in the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after purchasing an additional 3,022,979 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Intuitive Surgical by 89,098.8% in the 4th quarter. Proficio Capital Partners LLC now owns 949,967 shares of the medical equipment provider's stock worth $495,845,000 after purchasing an additional 948,902 shares in the last quarter. Capital Research Global Investors raised its stake in Intuitive Surgical by 25.5% in the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock worth $1,764,904,000 after purchasing an additional 687,906 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Intuitive Surgical in the 4th quarter worth about $313,769,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Brian Edward Miller sold 8,900 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the transaction, the executive vice president now owns 5,758 shares in the company, valued at approximately $2,793,033.06. This represents a 60.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president now owns 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,443 shares of company stock valued at $12,692,195. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on ISRG shares. Barclays dropped their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Robert W. Baird dropped their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler dropped their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada dropped their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial dropped their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $596.05.

Intuitive Surgical Trading Down 0.2%

Shares of ISRG opened at $557.08 on Friday. The stock has a market capitalization of $199.67 billion, a P/E ratio of 86.91, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The firm's fifty day simple moving average is $521.99 and its two-hundred day simple moving average is $539.26. Intuitive Surgical, Inc. has a 12 month low of $413.52 and a 12 month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same quarter in the prior year, the firm posted $1.50 earnings per share. As a group, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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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