NewEdge Wealth LLC Increases Position in Intuitive Surgical, Inc. $ISRG

Key Points

• NewEdge Wealth LLC increased its stake in Intuitive Surgical by 57.7% in the fourth quarter, buying 10,095 additional shares and bringing its total holdings to 27,585 shares worth about $15.6 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.77 billion, up 23% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $581.91, though several firms trimmed their targets after the earnings report.

NewEdge Wealth LLC raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 57.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,585 shares of the medical equipment provider's stock after purchasing an additional 10,095 shares during the period. NewEdge Wealth LLC's holdings in Intuitive Surgical were worth $15,623,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical during the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Intuitive Surgical during the third quarter valued at $27,000. Olistico Wealth LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter worth about $28,000. Finally, Caitlin John LLC bought a new position in Intuitive Surgical in the 3rd quarter worth about $30,000. 83.64% of the stock is owned by institutional investors.

Insider Activity at Intuitive Surgical

In related news, VP Fredrik Widman sold 133 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the sale, the vice president owned 660 shares in the company, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of the business's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. Insiders have sold 5,906 shares of company stock valued at $2,907,726 over the last quarter. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $450.06 on Friday. The firm has a market cap of $159.39 billion, a price-to-earnings ratio of 54.55, a price-to-earnings-growth ratio of 3.59 and a beta of 1.51. The business has a 50-day simple moving average of $472.19 and a two-hundred day simple moving average of $517.39. Intuitive Surgical, Inc. has a fifty-two week low of $427.84 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the firm posted $1.81 EPS. The business's quarterly revenue was up 23.0% compared to the same quarter last year. As a group, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on ISRG shares. JPMorgan Chase & Co. reduced their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Leerink Partners cut their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a report on Wednesday, April 22nd. Jefferies Financial Group reduced their price target on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. Finally, Truist Financial decreased their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average price target of $581.91.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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