Intuitive Surgical, Inc. $ISRG Shares Acquired by Integrated Wealth Concepts LLC

Key Points

• Institutional ownership increased: Integrated Wealth Concepts raised its Intuitive Surgical stake by 37.4% in the second quarter to 14,038 shares valued at approximately $5.58 million. Institutional investors collectively own 83.64% of the company.
• Strong quarterly results: Intuitive Surgical reported earnings of $2.80 per share, exceeding the $2.48 consensus estimate, while revenue rose 18.4% year over year to $2.89 billion.
• Analyst sentiment remains positive but targets declined: The stock has a “Moderate Buy” consensus rating and an average price target of $508.68, despite several analysts recently lowering their targets. Shares opened at $369.15, well below the consensus target.

Integrated Wealth Concepts LLC increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 37.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,038 shares of the medical equipment provider's stock after acquiring an additional 3,822 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Intuitive Surgical were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. RFG Advisory LLC grew its holdings in Intuitive Surgical by 42.1% during the 2nd quarter. RFG Advisory LLC now owns 7,345 shares of the medical equipment provider's stock worth $2,921,000 after acquiring an additional 2,175 shares in the last quarter. NewEdge Advisors LLC raised its position in Intuitive Surgical by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 50,825 shares of the medical equipment provider's stock valued at $20,212,000 after purchasing an additional 8,142 shares during the last quarter. IFP Advisors Inc raised its stake in Intuitive Surgical by 13.3% during the 2nd quarter. IFP Advisors Inc now owns 12,751 shares of the medical equipment provider's stock valued at $5,071,000 after acquiring an additional 1,498 shares during the last quarter. Arizona State Retirement System raised its position in Intuitive Surgical by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 98,553 shares of the medical equipment provider's stock worth $39,193,000 after buying an additional 1,427 shares during the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Intuitive Surgical by 3.1% in the 2nd quarter. Waverly Advisors LLC now owns 18,385 shares of the medical equipment provider's stock valued at $7,311,000 after buying an additional 558 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $369.15 on Friday. The business has a 50-day moving average of $376.27 and a two-hundred day moving average of $423.82. The firm has a market capitalization of $130.41 billion, a PE ratio of 42.29, a P/E/G ratio of 2.72 and a beta of 1.47. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.32. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm's revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.81 EPS. As a group, research analysts anticipate that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Insider Activity

In other news, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the executive vice president directly owned 5,320 shares in the company, valued at $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Ladd sold 400 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the director owned 251 shares of the company's stock, valued at approximately $95,129. This trade represents a 61.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,281 shares of company stock valued at $4,484,224 over the last ninety days. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial lowered their price target on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Piper Sandler reiterated an "overweight" rating on shares of Intuitive Surgical in a research report on Friday, August 21st. Bank of America lowered their target price on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft dropped their price target on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a research report on Tuesday, June 2nd. Finally, Robert W. Baird cut their price target on Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Twenty-two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average target price of $508.68.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company's principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.

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