Intuitive Surgical, Inc. $ISRG is Rockport Wealth LLC's 3rd Largest Position

Key Points

• Rockport Wealth LLC reduced its stake in Intuitive Surgical, Inc. by 14.7%, now owning 56,309 shares valued at approximately $27.9 million, making it the firm’s 3rd largest holding.
• The company's shares opened at $466.86, with a twelve-month low of $425.00 and a high of $616.00, reflecting a market capitalization of $167.36 billion.
• Intuitive Surgical reported Q2 earnings of $2.19 per share, exceeding analysts' expectations of $1.93, with revenues rising by 21.4% year-over-year to $2.44 billion.

Rockport Wealth LLC decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,309 shares of the medical equipment provider's stock after selling 9,689 shares during the period. Intuitive Surgical accounts for about 9.8% of Rockport Wealth LLC's investment portfolio, making the stock its 3rd largest position. Rockport Wealth LLC's holdings in Intuitive Surgical were worth $27,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. Nuveen LLC bought a new stake in Intuitive Surgical during the 1st quarter worth approximately $1,715,899,000. GAMMA Investing LLC raised its position in shares of Intuitive Surgical by 54,010.7% during the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock valued at $14,999,630,000 after buying an additional 3,022,979 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after buying an additional 584,375 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after buying an additional 453,335 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Trading Down 0.5%

ISRG traded down $2.46 during trading hours on Tuesday, hitting $467.54. The company's stock had a trading volume of 1,488,500 shares, compared to its average volume of 2,061,235. The business's 50-day moving average price is $491.12 and its 200-day moving average price is $510.92. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock has a market cap of $167.60 billion, a price-to-earnings ratio of 65.21, a P/E/G ratio of 4.93 and a beta of 1.61.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on ISRG. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, August 19th. UBS Group lifted their price objective on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Piper Sandler reiterated an "overweight" rating and set a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Insiders Place Their Bets

In other Intuitive Surgical 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 transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy L. Ladd sold 336 shares of Intuitive Surgical stock in a transaction 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 directly owned 1,074 shares of the company's stock, valued at $504,898.14. The trade was a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock valued at $21,716,492 over the last three months. 0.70% of the stock is owned by company insiders.

About Intuitive Surgical

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.