Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by L & S Advisors Inc

Key Points

• L & S Advisors Inc has reduced its stake in Intuitive Surgical, Inc. by 26.6%, selling 5,848 shares to hold a total of 16,175 shares, which are now valued at approximately $8,011,000.
• Several other hedges, like Brighton Jones LLC and Prudential PLC, have increased their positions in Intuitive Surgical during the last quarter, reflecting a shift in investor sentiment.
• Analysts have varying opinions on the stock, with a consensus rating of "Moderate Buy" and the average price target sitting at $595.95, with a notable increase in target prices from firms like Evercore ISI and Citigroup.

L & S Advisors Inc decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,175 shares of the medical equipment provider's stock after selling 5,848 shares during the quarter. Intuitive Surgical accounts for about 1.0% of L & S Advisors Inc's holdings, making the stock its 23rd biggest holding. L & S Advisors Inc's holdings in Intuitive Surgical were worth $8,011,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Scotia Capital Inc. increased its stake in Intuitive Surgical by 1.6% in the first quarter. Scotia Capital Inc. now owns 5,251 shares of the medical equipment provider's stock valued at $2,601,000 after purchasing an additional 85 shares during the last quarter. Liberty Wealth Management LLC grew its position in shares of Intuitive Surgical by 685.3% during the first quarter. Liberty Wealth Management LLC now owns 77,638 shares of the medical equipment provider's stock worth $38,452,000 after acquiring an additional 67,752 shares during the last quarter. J. Safra Sarasin Holding AG grew its position in shares of Intuitive Surgical by 55.8% during the first quarter. J. Safra Sarasin Holding AG now owns 16,216 shares of the medical equipment provider's stock worth $8,031,000 after acquiring an additional 5,807 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Intuitive Surgical by 48.2% during the first quarter. Bank of Nova Scotia now owns 278,136 shares of the medical equipment provider's stock worth $137,738,000 after acquiring an additional 90,513 shares during the last quarter. Finally, Aviso Wealth Management grew its position in shares of Intuitive Surgical by 45.3% during the first quarter. Aviso Wealth Management now owns 584 shares of the medical equipment provider's stock worth $289,000 after acquiring an additional 182 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary S. Guthart sold 2,800 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $495.24, for a total value of $1,386,672.00. Following the transaction, the insider directly owned 18,520 shares in the company, valued at $9,171,844.80. This trade represents a 13.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,903 shares of company stock worth $7,932,778. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ISRG shares. UBS Group raised their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays lowered their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Piper Sandler reiterated an "overweight" rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus price target of $595.95.

Intuitive Surgical Stock Performance

Intuitive Surgical stock traded down $5.50 during midday trading on Tuesday, reaching $477.86. 1,095,906 shares of the company were exchanged, compared to its average volume of 2,000,589. The company has a market capitalization of $171.30 billion, a price-to-earnings ratio of 66.65, a P/E/G ratio of 5.06 and a beta of 1.59. The firm's 50-day simple moving average is $522.89 and its 200-day simple moving average is $531.90. 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 posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The firm's revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, 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.