Hemington Wealth Management Cuts Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Hemington Wealth Management has significantly reduced its stake in Intuitive Surgical by 89.1%, leaving it with only 232 shares worth approximately $126,000.
• Various institutional investors have modified their positions, with Vanguard Group Inc. increasing its stake by 1.4%, now owning over 32.6 million shares valued at $16.18 billion.
• Intuitive Surgical's stock had a solid performance, reporting earnings of $2.19 per share, surpassing analysts' expectations, with revenues rising 21.4% year-over-year to $2.44 billion.

Hemington Wealth Management reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 89.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 232 shares of the medical equipment provider's stock after selling 1,890 shares during the period. Hemington Wealth Management's holdings in Intuitive Surgical were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after acquiring an additional 453,335 shares during the last quarter. Invesco Ltd. boosted its position in shares of Intuitive Surgical by 1.7% during the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock valued at $2,090,027,000 after buying an additional 71,794 shares during the last quarter. Northern Trust Corp boosted its position in shares of Intuitive Surgical by 0.3% during the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock valued at $1,798,465,000 after buying an additional 11,988 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Intuitive Surgical by 15.0% during the first 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 buying an additional 457,080 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Intuitive Surgical during the first quarter valued at $1,715,899,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

ISRG stock opened at $429.59 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The business's 50-day moving average is $458.68 and its two-hundred day moving average is $497.98. The company has a market cap of $154.00 billion, a price-to-earnings ratio of 59.91, a P/E/G ratio of 4.66 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share 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 company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. Intuitive Surgical's revenue was up 21.4% on a year-over-year basis. Equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 336 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director owned 1,074 shares of the company's stock, valued at $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ISRG shares. Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. BTIG Research reaffirmed a "buy" rating and set a $571.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, October 1st. Evercore ISI dropped their price objective on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating on the stock in a research report on Tuesday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Finally, The Goldman Sachs Group dropped their price objective on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a research report on Wednesday, October 1st. Fourteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average target price of $589.43.

About Intuitive Surgical

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.