Nova R Wealth Inc. Reduces Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Nova R Wealth Inc. cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,605 shares of the medical equipment provider's stock after selling 548 shares during the period. Intuitive Surgical accounts for about 5.3% of Nova R Wealth Inc.'s investment portfolio, making the stock its 5th biggest position. Nova R Wealth Inc.'s holdings in Intuitive Surgical were worth $10,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Atala Financial Inc bought a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $25,000. Parvin Asset Management LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $26,000. Global Financial Private Client LLC raised its stake in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. Finally, Hurley Capital LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of recent research reports. Truist Financial dropped their price target on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 price target on shares of Intuitive Surgical and gave the stock a "buy" rating in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft downgraded shares of Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their price target for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Barclays decreased their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average price target of $588.95.

Insider Buying and Selling

In related news, EVP Gary Loeb sold 1,700 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the completion of the transaction, the executive vice president now owns 2,245 shares in the company, valued at approximately $1,152,089.10. This represents a 43.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the transaction, the executive vice president now owns 5,224 shares of the company's stock, valued at $2,695,113.84. The trade was a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,998 shares of company stock worth $2,611,577. 0.70% of the stock is owned by insiders.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock traded down $0.48 on Friday, hitting $533.71. The company had a trading volume of 2,014,026 shares, compared to its average volume of 1,675,502. The firm has a market capitalization of $191.29 billion, a P/E ratio of 78.26, a P/E/G ratio of 5.67 and a beta of 1.67. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The stock has a 50-day moving average of $531.06 and a 200-day moving average of $536.83.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.19 billion. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. During the same quarter in the prior year, the company earned $1.50 earnings per share. Equities analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS 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.