HB Wealth Management LLC Grows Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• HB Wealth Management LLC increased its holdings in Intuitive Surgical, Inc. by 153.4%, now owning 25,111 shares valued at approximately $12.4 million.
• Institutional investors collectively own 83.64% of Intuitive Surgical's stock, indicating strong interest from major financial players.
• Intuitive Surgical reported $2.19 EPS for the latest quarter, exceeding expectations, with revenue increasing by 21.4% year-over-year.

HB Wealth Management LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 153.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,111 shares of the medical equipment provider's stock after buying an additional 15,203 shares during the quarter. HB Wealth Management LLC's holdings in Intuitive Surgical were worth $12,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ISRG. Chilton Capital Management LLC raised its stake 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 valued at $25,000 after purchasing an additional 43 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter worth about $26,000. Global Financial Private Client LLC increased its holdings 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 acquiring an additional 38 shares during the period. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the 1st quarter worth about $26,000. Finally, Hurley Capital LLC bought a new position in Intuitive Surgical in the 4th quarter valued at about $28,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Desantis sold 188 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the transaction, the executive vice president owned 5,224 shares in the company, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,798 shares of company stock worth $3,955,331. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $495.86 on Friday. The business's 50-day moving average price is $529.86 and its two-hundred day moving average price is $535.13. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company has a market capitalization of $177.73 billion, a P/E ratio of 69.16, a price-to-earnings-growth ratio of 5.45 and a beta of 1.64.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The business's quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ISRG. Barclays dropped their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Truist Financial upped their price target on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday. Piper Sandler reissued an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their price target for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Finally, Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $592.05.

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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