Intuitive Surgical, Inc. $ISRG Shares Sold by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management Inc. has reduced its stake in Intuitive Surgical by 54.7%, now holding 8,206 shares valued at approximately $4.46 million.
• Insider trading activity included Gary S. Guthart selling 29,360 shares, reducing his ownership by 59.69%, while overall insiders sold a total of 45,224 shares worth over $21 million in the last quarter.
• Intuitive Surgical reported a 21.4% increase in quarterly revenue year-over-year, achieving $2.44 billion, with a quarterly EPS of $2.19, surpassing analyst expectations.

Elite Wealth Management Inc. cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 54.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,206 shares of the medical equipment provider's stock after selling 9,908 shares during the period. Intuitive Surgical makes up 1.5% of Elite Wealth Management Inc.'s holdings, making the stock its 9th largest position. Elite Wealth Management Inc.'s holdings in Intuitive Surgical were worth $4,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its position in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after buying an additional 43 shares in the last quarter. Elite Financial Inc. bought a new stake in Intuitive Surgical during the 1st quarter worth about $26,000. LFA Lugano Financial Advisors SA bought a new stake in Intuitive Surgical during the 1st quarter worth about $30,000. TD Capital Management LLC lifted its position in Intuitive Surgical by 300.0% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after buying an additional 45 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in Intuitive Surgical during the 1st quarter worth about $30,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the transaction, the insider owned 19,827 shares in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at approximately $504,898.14. The trade was a 23.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock worth $21,716,492 in the last quarter. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Intuitive Surgical in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Evercore ISI dropped their target price on shares of Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating on the stock in a report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $615.00 target price on shares of Intuitive Surgical in a report on Tuesday, August 19th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $589.43.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $443.76 on Friday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The firm has a market cap of $159.08 billion, a P/E ratio of 61.89, a price-to-earnings-growth ratio of 4.71 and a beta of 1.61. The firm's 50-day simple moving average is $459.75 and its 200 day simple moving average is $498.61.

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

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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