Intuitive Surgical, Inc. $ISRG Shares Purchased by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its Intuitive Surgical holdings by 808.4% in the third quarter, adding 4,252 shares to reach 4,778 shares valued at about $1.94 million.
• Intuitive Surgical reported quarterly EPS of $3.00, beating the $2.65 consensus, while revenue of $3.05 billion exceeded estimates and rose 21.7% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $493.54. Company insiders sold 38,778 shares worth roughly $16.8 million over the past three months.

Provenance Wealth Advisors LLC grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 808.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,778 shares of the medical equipment provider's stock after purchasing an additional 4,252 shares during the quarter. Provenance Wealth Advisors LLC's holdings in Intuitive Surgical were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Main Street Group LTD acquired a new stake in Intuitive Surgical during the first quarter worth approximately $30,000. North Point Portfolio Managers Corp OH bought a new stake in Intuitive Surgical in the third quarter worth approximately $27,000. John Boyer Inc. bought a new stake in Intuitive Surgical in the third quarter worth approximately $27,000. Compass Wealth Management LLC acquired a new position in Intuitive Surgical in the third quarter valued at approximately $29,000. Finally, Evergreen Advisors LLC acquired a new position in Intuitive Surgical in the first quarter valued at approximately $35,000. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

ISRG opened at $440.75 on Wednesday. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The firm has a market capitalization of $152.78 billion, a PE ratio of 53.30, a P/E/G ratio of 3.01 and a beta of 1.45. The company's 50-day moving average is $404.05 and its 200 day moving average is $432.90.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.35. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the company earned $2.40 earnings per share. As a group, analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Craig H. Barratt sold 1,150 shares of Intuitive Surgical stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total transaction of $510,370.00. Following the transaction, the director directly owned 1,150 shares of the company's stock, valued at $510,370. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing 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 Patricia L. Wadors sold 1,078 shares of Intuitive Surgical stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $478,416.40. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,778 shares of company stock worth $16,814,967 in the last three months. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on Intuitive Surgical from $513.00 to $550.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Wednesday, October 21st. Wells Fargo & Company reiterated an "overweight" rating and set a $486.00 target price (down from $487.00) on shares of Intuitive Surgical in a research report on Wednesday, October 21st. KeyCorp reiterated an "overweight" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Finally, Barclays reissued an "overweight" rating and set a $500.00 target price (up from $485.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $493.54.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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