Kovack Advisors Inc. Sells 611 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Kovack Advisors Inc. sold 611 shares of Intuitive Surgical, reducing its holdings by 36.2% to 1,075 shares, valued at $532,000.
• Insider activity included EVP Robert Desantis selling 188 shares and SVP Mark Brosius selling 216 shares, with total sales amounting to $3.95 million in the last quarter.
• Several brokerages raised their price targets for Intuitive Surgical, with Citigroup setting a target of $650.00 and an overall consensus price target of $592.05.

Kovack Advisors Inc. cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 36.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,075 shares of the medical equipment provider's stock after selling 611 shares during the period. Kovack Advisors Inc.'s holdings in Intuitive Surgical were worth $532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hurley Capital LLC bought a new position in shares of Intuitive Surgical in the 4th quarter valued at $28,000. Parvin Asset Management LLC bought a new position in shares of Intuitive Surgical in the 4th quarter valued at $26,000. Chilton Capital Management LLC lifted its stake in shares of Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Global Financial Private Client LLC lifted its stake in shares of 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 valued at $26,000 after acquiring an additional 38 shares during the last quarter. Finally, Elite Financial Inc. bought a new position in shares of Intuitive Surgical in the 1st quarter valued at $26,000. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In other news, EVP Robert Desantis sold 188 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the transaction, the executive vice president owned 5,224 shares of the company's stock, valued at $2,695,113.84. This represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,798 shares of company stock worth $3,955,331 over the last quarter. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ISRG. Citigroup reiterated 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. Truist Financial increased their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday. Wells Fargo & Company increased 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. Finally, BTIG Research increased their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $592.05.

Intuitive Surgical Trading Up 1.5%

Shares of Intuitive Surgical stock opened at $495.86 on Friday. The company has a market cap of $177.73 billion, a P/E ratio of 69.16, a PEG ratio of 5.45 and a beta of 1.64. The business has a 50-day moving average price of $529.86 and a two-hundred day moving average price of $535.13. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 28.51% and a return on equity of 14.56%. The business's revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. Equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.

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