Procyon Advisors LLC Has $3.73 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Procyon Advisors LLC raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,534 shares of the medical equipment provider's stock after acquiring an additional 790 shares during the period. Procyon Advisors LLC's holdings in Intuitive Surgical were worth $3,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Intuitive Surgical by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock worth $16,813,478,000 after acquiring an additional 360,591 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intuitive Surgical by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock valued at $4,039,200,000 after purchasing an additional 243,802 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Intuitive Surgical by 1.8% during the 4th quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock valued at $2,541,356,000 after purchasing an additional 86,488 shares in the last quarter. Norges Bank bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $2,401,493,000. Finally, Invesco Ltd. boosted its position in shares of Intuitive Surgical by 7.7% during the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider's stock valued at $2,165,184,000 after purchasing an additional 295,025 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at $3,312,920. The trade was a 27.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark Brosius sold 215 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $552.07, for a total transaction of $118,695.05. Following the completion of the transaction, the senior vice president now owns 1,338 shares of the company's stock, valued at approximately $738,669.66. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,227 shares of company stock worth $12,570,563 in the last quarter. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

ISRG has been the topic of a number of research reports. Robert W. Baird dropped their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 target price on Intuitive Surgical and gave the company a "buy" rating in a report on Monday, April 14th. Evercore ISI reduced their price objective on Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Barclays reduced their price objective on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Truist Financial cut their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average price target of $596.05.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $558.06 on Friday. The stock has a market capitalization of $200.02 billion, a PE ratio of 87.06, a PEG ratio of 5.85 and a beta of 1.67. Intuitive Surgical, Inc. has a 1 year low of $405.08 and a 1 year high of $616.00. The business's 50-day moving average is $520.78 and its 200 day moving average is $539.13.

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 (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. During the same period last year, the firm earned $1.50 earnings per share. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

About Intuitive Surgical

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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