Intuitive Surgical, Inc. $ISRG Shares Sold by Beacon Investment Advisory Services Inc.

Key Points

• Beacon Investment Advisory Services Inc. reduced its stake in Intuitive Surgical by 7.0% in the second quarter, now holding 59,295 shares valued at approximately $32.2 million.
• Intuitive Surgical's stock has experienced a 0.8% decrease, with a current market capitalization of $159.16 billion, and reported a quarterly revenue increase of 21.4% year-over-year.
• The company has received a consensus rating of "Moderate Buy" from analysts, with a target price averaging $595.95, indicating potential upside for investors.

Beacon Investment Advisory Services Inc. cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,295 shares of the medical equipment provider's stock after selling 4,468 shares during the period. Intuitive Surgical makes up 1.4% of Beacon Investment Advisory Services Inc.'s investment portfolio, making the stock its 20th largest position. Beacon Investment Advisory Services Inc.'s holdings in Intuitive Surgical were worth $32,221,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ISRG. Nuveen LLC acquired a new stake in shares of Intuitive Surgical in the first quarter worth approximately $1,715,899,000. GAMMA Investing LLC boosted its position in shares of Intuitive Surgical by 54,010.7% in the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after acquiring an additional 3,022,979 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Intuitive Surgical by 26.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock worth $1,396,496,000 after acquiring an additional 584,375 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Intuitive Surgical by 20.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock valued at $1,680,922,000 after buying an additional 566,979 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in 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 in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 0.8%

ISRG opened at $443.99 on Thursday. The firm has a market capitalization of $159.16 billion, a P/E ratio of 61.92, a P/E/G ratio of 4.69 and a beta of 1.61. The firm's 50 day moving average is $472.54 and its 200-day moving average is $502.13. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. Equities analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, BTIG Research lifted their price target on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Insider Buying and Selling

In related news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company's stock, valued at approximately $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 quarter, insiders sold 45,224 shares of company stock worth $21,716,492. Insiders own 0.70% of the company's stock.

Intuitive Surgical 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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