Kingsman Wealth Management Inc. Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Kingsman Wealth Management Inc. bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 2,221 shares of the medical equipment provider's stock, valued at approximately $1,100,000. Intuitive Surgical accounts for approximately 0.8% of Kingsman Wealth Management Inc.'s holdings, making the stock its 24th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Chilton Capital Management LLC boosted its position in Intuitive Surgical by 614.3% during the first 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 bought a new position in Intuitive Surgical during the fourth quarter worth $26,000. Global Financial Private Client LLC boosted its position in 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 purchasing an additional 38 shares during the period. Elite Financial Inc. bought a new position in Intuitive Surgical during the first quarter worth $26,000. Finally, Hurley Capital LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $28,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 1.8%

ISRG stock traded down $9.05 during midday trading on Wednesday, hitting $501.95. The company had a trading volume of 4,642,546 shares, compared to its average volume of 1,677,463. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The stock has a market cap of $179.91 billion, a price-to-earnings ratio of 73.60, a PEG ratio of 5.47 and a beta of 1.64. The stock's 50 day moving average price is $535.90 and its 200 day moving average price is $536.29.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued 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. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. Analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Gary Loeb sold 1,700 shares of the company's 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 transaction, the executive vice president directly owned 2,245 shares of the company's stock, valued at $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 is available through the SEC website. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ISRG shares. Wells Fargo & Company boosted their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays lowered their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Royal Bank Of Canada boosted their target price on Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $592.05.

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.