EdgeRock Capital LLC Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

EdgeRock Capital LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 524 shares of the medical equipment provider's stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Atala Financial Inc purchased a new stake in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Parvin Asset Management LLC bought a new stake in Intuitive Surgical during the 4th quarter valued at $26,000. Global Financial Private Client LLC raised its holdings in Intuitive Surgical by 253.3% during the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares during the last quarter. BankPlus Trust Department bought a new stake in Intuitive Surgical during the 4th quarter valued at $28,000. Finally, Hurley Capital LLC bought a new stake in Intuitive Surgical during the 4th quarter valued at $28,000. Institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several research reports. Truist Financial decreased their price objective on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Piper Sandler decreased their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Barclays decreased their price target 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. Finally, Royal Bank of Canada decreased their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $588.95.

Insider Activity

In other news, SVP Mark Brosius sold 215 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $549.06, for a total transaction of $118,047.90. Following the transaction, the senior vice president now owns 1,768 shares in the company, valued at $970,738.08. This represents a 10.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gary Loeb sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $513.18, for a total transaction of $872,406.00. Following the sale, the executive vice president now directly owns 2,245 shares in the company, valued at $1,152,089.10. The trade was a 43.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,998 shares of company stock worth $2,611,577 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Price Performance

NASDAQ ISRG traded down $9.41 during trading on Thursday, reaching $513.00. 2,390,381 shares of the company's stock traded hands, compared to its average volume of 1,668,728. The firm has a market cap of $183.87 billion, a price-to-earnings ratio of 80.03, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The company's 50 day simple moving average is $525.48 and its two-hundred day simple moving average is $538.67. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00.

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

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.