AE Wealth Management LLC Boosts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• AE Wealth Management LLC has increased its holdings in Intuitive Surgical, Inc. (NASDAQ: ISRG) by 32.6%, now owning 8,407 shares valued at approximately $4.16 million.
• Intuitive Surgical reported earnings of $2.19 per share for the last quarter, exceeding analysts' expectations by $0.26, with revenue of $2.44 billion, a 21.4% increase year-over-year.
• Multiple research analysts have revised their price targets for Intuitive Surgical, with estimates ranging from $550.00 to $650.00, reflecting a generally positive outlook on the stock.

AE Wealth Management LLC raised its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,407 shares of the medical equipment provider's stock after acquiring an additional 2,066 shares during the period. AE Wealth Management LLC's holdings in Intuitive Surgical were worth $4,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC increased its stake in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares during the period. Parvin Asset Management LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $26,000. Global Financial Private Client LLC increased its stake in Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares during the period. Elite Financial Inc. purchased a new position in Intuitive Surgical in the 1st quarter worth approximately $26,000. Finally, Hurley Capital LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Trading Up 1.5%

Shares of ISRG traded up $7.25 during trading hours on Friday, hitting $495.86. The company had a trading volume of 1,870,941 shares, compared to its average volume of 1,842,693. The company has a market capitalization of $177.76 billion, a PE ratio of 69.16, a price-to-earnings-growth ratio of 5.53 and a beta of 1.64. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company's fifty day moving average price is $529.86 and its two-hundred day moving average price is $535.07.

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

Wall Street Analysts Forecast Growth

ISRG has been the topic of several research analyst reports. Truist Financial boosted their target price on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday. Robert W. Baird reduced their target price on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup reaffirmed a "buy" rating and issued a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, Barclays cut their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and a consensus target price of $592.05.

Insider Buying and Selling

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the transaction, the director directly owned 6,371 shares in the company, valued at $3,312,920. The trade was a 27.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,798 shares of company stock valued at $3,955,331. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Company 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.