Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 21.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,114 shares of the medical equipment provider's stock after selling 4,990 shares during the quarter. Intuitive Surgical accounts for 1.2% of Elite Wealth Management Inc.'s portfolio, making the stock its 7th largest position. Elite Wealth Management Inc.'s holdings in Intuitive Surgical were worth $8,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Castleark Management LLC grew its holdings in shares of Intuitive Surgical by 3.4% during the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock worth $47,221,000 after purchasing an additional 2,990 shares during the last quarter. Arlington Trust Co LLC boosted its holdings in Intuitive Surgical by 34.5% during the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock worth $369,000 after buying an additional 191 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Intuitive Surgical by 3.2% during the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock worth $1,243,000 after purchasing an additional 78 shares during the period. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth about $454,000. Finally, Whalerock Point Partners LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth about $209,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 1,700 shares of the stock in a transaction on Friday, April 25th. The stock was 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 directly owned 2,245 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the transaction, the director directly owned 6,371 shares of the company's stock, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ISRG shares. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their target price for the company from $515.00 to $440.00 in a research report on Monday, June 9th. Truist Financial dropped their price objective on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird lowered their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and issued a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada lowered their target price on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $592.59.

Intuitive Surgical Stock Performance

ISRG stock opened at $512.06 on Monday. The stock's 50 day simple moving average is $537.85 and its 200 day simple moving average is $536.67. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The company has a market cap of $183.53 billion, a P/E ratio of 75.08, a price-to-earnings-growth ratio of 5.43 and a beta of 1.64.

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

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.

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