Park Edge Advisors LLC Increases Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Park Edge Advisors LLC raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 110.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,348 shares of the medical equipment provider's stock after purchasing an additional 1,232 shares during the period. Park Edge Advisors LLC's holdings in Intuitive Surgical were worth $1,163,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Sycomore Asset Management grew its stake in Intuitive Surgical by 27.4% in the fourth quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider's stock valued at $9,214,000 after acquiring an additional 4,079 shares during the period. Castleark Management LLC increased its stake in Intuitive Surgical by 3.4% during the 4th quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock worth $47,221,000 after purchasing an additional 2,990 shares in the last quarter. Truist Financial Corp raised its holdings in Intuitive Surgical by 3.0% during the 4th quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider's stock worth $129,494,000 after buying an additional 7,298 shares during the period. Global X Japan Co. Ltd. lifted its stake in Intuitive Surgical by 9.8% in the fourth quarter. Global X Japan Co. Ltd. now owns 46,289 shares of the medical equipment provider's stock valued at $24,161,000 after buying an additional 4,140 shares in the last quarter. Finally, Northeast Investment Management lifted its stake in Intuitive Surgical by 3.1% in the fourth quarter. Northeast Investment Management now owns 89,170 shares of the medical equipment provider's stock valued at $46,543,000 after buying an additional 2,685 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 215 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $552.07, for a total value of $118,695.05. Following the sale, the senior vice president now owns 1,338 shares in the company, valued at approximately $738,669.66. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Edward Miller sold 8,900 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total value of $4,317,123.00. Following the completion of the transaction, the executive vice president now owns 5,758 shares in the company, valued at $2,793,033.06. This represents a 60.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,716 shares of company stock worth $12,831,288 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler dropped their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 price target on shares of Intuitive Surgical and gave the company a "buy" rating in a report on Monday, April 14th. Robert W. Baird cut their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Evercore ISI lowered their price objective on shares of Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating for the company in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $596.05.

Intuitive Surgical Trading Up 0.0%

Shares of NASDAQ ISRG traded up $0.11 during mid-day trading on Thursday, hitting $558.06. The company had a trading volume of 1,241,906 shares, compared to its average volume of 1,646,647. Intuitive Surgical, Inc. has a 1 year low of $405.08 and a 1 year high of $616.00. The company has a market capitalization of $200.02 billion, a price-to-earnings ratio of 87.06, a P/E/G ratio of 5.85 and a beta of 1.67. The stock's 50-day moving average price is $519.52 and its 200-day moving average price is $538.95.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. As a group, equities research 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.