Concord Asset Management LLC VA Acquires 604 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Concord Asset Management LLC VA increased its holdings in Intuitive Surgical by 20.7% during Q2, owning a total of 3,517 shares worth approximately $1.91 million.
• Insiders at Intuitive Surgical have recently sold a significant amount of stock, including Director Amy L. Ladd, who sold 335 shares, and EVP Myriam Curet, who sold 4,500 shares.
• Analysts' ratings for Intuitive Surgical reveal a mixed outlook, with Goldman Sachs cutting its price target while maintaining a "buy" rating, and the consensus rating being categorized as a Moderate Buy.

Concord Asset Management LLC VA grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 20.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,517 shares of the medical equipment provider's stock after purchasing an additional 604 shares during the period. Concord Asset Management LLC VA's holdings in Intuitive Surgical were worth $1,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ISRG. Nuveen LLC acquired a new stake in shares of Intuitive Surgical during the 1st quarter valued at $1,715,899,000. Goldman Sachs Group Inc. boosted its holdings in shares of Intuitive Surgical by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after acquiring an additional 584,375 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock valued at $1,680,922,000 after acquiring an additional 566,979 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intuitive Surgical by 15.0% during the 1st 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 acquiring an additional 457,080 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Intuitive Surgical by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after acquiring an additional 453,335 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 335 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total value of $147,631.15. Following the completion of the sale, the director directly owned 739 shares of the company's stock, valued at $325,669.91. The trade was a 31.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares of the company's stock, valued at $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock valued at $21,716,492 in the last three months. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ISRG. The Goldman Sachs Group cut their price objective on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. BTIG Research reissued a "buy" rating and set a $571.00 price objective on shares of Intuitive Surgical in a report on Wednesday, October 1st. Zacks Research downgraded Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Truist Financial raised their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their target price on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Fourteen research 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. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average price target of $589.43.

Intuitive Surgical Trading Down 3.2%

ISRG stock opened at $429.59 on Monday. The stock has a 50-day moving average price of $458.68 and a 200-day moving average price of $497.84. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market cap of $154.00 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 4.51 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $2.35 billion. During the same period last year, the company posted $1.78 EPS. The business's quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current 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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