Moran Wealth Management LLC Raises Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Moran Wealth Management LLC increased its holdings in Intuitive Surgical by 44% during the 2nd quarter, now owning 2,476 shares valued at approximately $1.35 million.
• Analyst ratings for Intuitive Surgical show a persistent interest, with fourteen analysts giving it a "Buy" rating while notable price targets have been reduced, the highest now set at $582.14.
• Intuitive Surgical reported a 21.4% year-over-year revenue increase, reaching $2.44 billion, along with exceeding earnings per share (EPS) expectations, which were $2.19 against a consensus of $1.93.

Moran Wealth Management LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 44.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,476 shares of the medical equipment provider's stock after buying an additional 757 shares during the quarter. Moran Wealth Management LLC's holdings in Intuitive Surgical were worth $1,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ISRG. Brighton Jones LLC lifted its stake in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Intuitive Surgical by 9.3% during the 1st quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider's stock worth $3,029,000 after purchasing an additional 518 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of Intuitive Surgical by 85.1% during the 1st quarter. Grove Bank & Trust now owns 1,270 shares of the medical equipment provider's stock worth $629,000 after purchasing an additional 584 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of Intuitive Surgical by 139.9% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 2,073 shares of the medical equipment provider's stock worth $1,027,000 after purchasing an additional 1,209 shares during the last quarter. Finally, NBT Bank N A NY lifted its stake in shares of Intuitive Surgical by 23.0% during the 1st quarter. NBT Bank N A NY now owns 3,062 shares of the medical equipment provider's stock worth $1,517,000 after purchasing an additional 573 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ISRG has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Truist Financial decreased their price target on Intuitive Surgical from $600.00 to $525.00 and set a "buy" rating for the company in a research note on Wednesday. Mizuho decreased their price target on Intuitive Surgical from $570.00 to $520.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Evercore ISI decreased their price target on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research note on Tuesday, October 7th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $582.14.

Insider Activity

In other news, Director Amy L. Ladd sold 336 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director directly owned 1,074 shares of the company's stock, valued at approximately $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,224 shares of company stock valued at $21,716,492. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $435.61 on Thursday. The stock's 50-day simple moving average is $456.15 and its 200-day simple moving average is $496.60. The firm has a market capitalization of $156.16 billion, a PE ratio of 60.75, a P/E/G ratio of 4.58 and a beta of 1.61. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion for 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 company's revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

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.

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