Oak Associates Ltd. OH Sells 1,618 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Oak Associates Ltd. OH reduced its stake in Intuitive Surgical, Inc. by 14.7%, now holding 9,405 shares valued at $4.66 million after selling 1,618 shares.
• Several large institutional investors, including Castleark Management and Longbow Finance, increased their positions in Intuitive Surgical, highlighting continued interest in the stock.
• Despite reporting strong quarterly earnings with a 21.4% year-over-year revenue increase, Intuitive Surgical's stock price remains under pressure, with a current target price consensus of $595.95 among analysts.

Oak Associates Ltd. OH reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 14.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,405 shares of the medical equipment provider's stock after selling 1,618 shares during the period. Oak Associates Ltd. OH's holdings in Intuitive Surgical were worth $4,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC raised its stake in Intuitive Surgical by 19.1% in the 1st quarter. Truvestments Capital LLC now owns 2,200 shares of the medical equipment provider's stock valued at $1,090,000 after acquiring an additional 353 shares during the period. Silvant Capital Management LLC raised its stake in Intuitive Surgical by 0.3% in the 1st quarter. Silvant Capital Management LLC now owns 86,287 shares of the medical equipment provider's stock valued at $42,735,000 after acquiring an additional 252 shares during the period. CreativeOne Wealth LLC raised its stake in Intuitive Surgical by 9.7% in the 1st quarter. CreativeOne Wealth LLC now owns 5,472 shares of the medical equipment provider's stock valued at $2,710,000 after acquiring an additional 486 shares during the period. Ieq Capital LLC raised its stake in Intuitive Surgical by 25.2% in the 1st quarter. Ieq Capital LLC now owns 27,325 shares of the medical equipment provider's stock valued at $13,533,000 after acquiring an additional 5,498 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Intuitive Surgical in the 1st quarter valued at about $2,363,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Performance

ISRG traded down $0.54 during midday trading on Friday, hitting $473.30. The stock had a trading volume of 1,651,962 shares, compared to its average volume of 1,935,464. The company has a market cap of $169.67 billion, a P/E ratio of 66.01, a price-to-earnings-growth ratio of 4.96 and a beta of 1.59. The business has a fifty day moving average of $500.45 and a 200 day moving average of $517.51. 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 issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. Intuitive Surgical's revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several analyst reports. Wells Fargo & Company upped their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Truist Financial upped their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. BTIG Research upped their price target on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI upped their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Insider Buying and Selling

In related news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on 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 transaction, the executive vice president directly owned 353 shares of the company's stock, valued at $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction on Monday, July 28th. The stock was sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the completion of the transaction, the insider directly owned 13,187 shares in the company, valued at approximately $6,575,565.68. The trade was a 37.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,839 shares of company stock valued at $7,896,972 over the last three months. 0.70% of the stock is owned by company insiders.

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.