Concurrent Investment Advisors LLC Purchases 4,637 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Concurrent Investment Advisors LLC increased its holdings in Intuitive Surgical by 35.3% in the second quarter, acquiring an additional 4,637 shares, bringing their total ownership to 17,787 shares worth approximately $9.67 million.
• Recent analyst reports show mixed ratings for Intuitive Surgical, with Goldman Sachs lowering their target price from $621.00 to $567.00 and Truist Financial increasing theirs from $590.00 to $600.00, indicating a consensus rating of "Moderate Buy."
• Intuitive Surgical's stock has seen a 3.2% decrease recently, trading at $429.59 with a market cap of $154 billion and notable performance metrics including a PE ratio of 59.91 and a revenue growth of 21.4% year-over-year.

Concurrent Investment Advisors LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 35.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 17,787 shares of the medical equipment provider's stock after acquiring an additional 4,637 shares during the period. Concurrent Investment Advisors LLC's holdings in Intuitive Surgical were worth $9,666,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Norway Savings Bank raised its position in Intuitive Surgical by 53.4% during the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock worth $1,420,000 after purchasing an additional 910 shares during the last quarter. IronOak Wealth LLC. bought a new position in Intuitive Surgical during the 2nd quarter worth $1,099,000. Trust Co. of Oklahoma bought a new position in Intuitive Surgical during the 2nd quarter worth $363,000. Neville Rodie & Shaw Inc. raised its position in Intuitive Surgical by 11.9% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock worth $5,666,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Sax Wealth Advisors LLC raised its position in Intuitive Surgical by 218.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,456 shares of the medical equipment provider's stock worth $1,334,000 after purchasing an additional 1,684 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research report on Wednesday, October 1st. BTIG Research reaffirmed a "buy" rating and set a $571.00 target price on shares of Intuitive Surgical in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Intuitive Surgical in a research report on Wednesday. Truist Financial lifted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI lowered their price objective on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research report on Tuesday, October 7th. Fourteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $589.43.

Intuitive Surgical Trading Down 3.2%

ISRG stock opened at $429.59 on Friday. The stock has a 50-day moving average price of $458.68 and a 200-day moving average price of $497.91. 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, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $1.78 EPS. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity

In other news, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was 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 in the company, valued at $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary S. Guthart sold 29,360 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $21,716,492 in the last three months. Company insiders own 0.70% of the company's stock.

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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