HighPoint Advisor Group LLC Reduces Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• HighPoint Advisor Group cut its stake in Intuitive Surgical by 31.1% in the fourth quarter, selling 4,736 shares and leaving it with 10,469 shares valued at about $5.93 million.
• Analyst sentiment remains mixed but generally positive: Intuitive Surgical has an average rating of “Moderate Buy” with an average price target of $581.91, while several firms recently adjusted their views and targets.
• The company posted strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both ahead of estimates, even as the stock traded down to around $420.06 after a recent 6.7% decline.

HighPoint Advisor Group LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 31.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,469 shares of the medical equipment provider's stock after selling 4,736 shares during the quarter. HighPoint Advisor Group LLC's holdings in Intuitive Surgical were worth $5,929,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical during the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. boosted its stake in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after buying an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in Intuitive Surgical during the third quarter worth $27,000. Olistico Wealth LLC acquired a new position in Intuitive Surgical during the fourth quarter worth $28,000. Finally, Caitlin John LLC acquired a new position in Intuitive Surgical during the third quarter worth $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ISRG shares. Evercore lowered their price objective on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Robert W. Baird lifted their target price on Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Citigroup upgraded Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 target price on the stock in a research report on Wednesday, March 11th. Mizuho set a $525.00 target price on Intuitive Surgical and gave the company a "neutral" rating in a research report on Monday, April 13th. Finally, Wall Street Zen downgraded Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Eighteen 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $581.91.

Insider Buying and Selling

In related news, EVP Gary Loeb sold 400 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the sale, the executive vice president directly owned 6,120 shares of the company's stock, valued at $2,735,334. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the sale, the senior vice president directly owned 1,613 shares of the company's stock, valued at approximately $782,321.13. This trade represents a 28.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,201 shares of company stock valued at $3,034,567 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Down 6.7%

Shares of NASDAQ ISRG opened at $420.06 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $417.74 and a twelve month high of $603.88. The stock has a fifty day simple moving average of $469.33 and a 200-day simple moving average of $517.03. The stock has a market capitalization of $148.77 billion, a PE ratio of 50.92, a PEG ratio of 3.59 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical's revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. On average, equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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