Intuitive Surgical, Inc. $ISRG Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC has significantly reduced its holdings in Intuitive Surgical, Inc. by selling 6,969 shares, decreasing its position by 92.5% during the second quarter, leaving it with only 565 shares worth approximately $307,000.
• Insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical, which represented a 59.69% decrease in his position, while insider Amy L. Ladd sold 336 shares, indicating notable insider trading activity.
• Equities research analysts maintain a generally positive outlook on Intuitive Surgical, with 13 analysts rating it as a Buy and setting a target price averaging around $595.95, despite a mix of ratings from different firms.

Procyon Advisors LLC decreased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 92.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 565 shares of the medical equipment provider's stock after selling 6,969 shares during the quarter. Procyon Advisors LLC's holdings in Intuitive Surgical were worth $307,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Pallas Capital Advisors LLC grew its stake in shares of Intuitive Surgical by 7.4% during the 2nd quarter. Pallas Capital Advisors LLC now owns 1,786 shares of the medical equipment provider's stock valued at $970,000 after purchasing an additional 123 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of Intuitive Surgical by 0.8% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider's stock valued at $1,374,000 after acquiring an additional 19 shares during the period. Balefire LLC bought a new position in shares of Intuitive Surgical during the 2nd quarter valued at approximately $449,000. Fragasso Financial Advisors Inc grew its stake in shares of Intuitive Surgical by 20.3% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 848 shares of the medical equipment provider's stock valued at $461,000 after acquiring an additional 143 shares during the period. Finally, Fiduciary Alliance LLC grew its stake in shares of Intuitive Surgical by 8.7% during the 2nd quarter. Fiduciary Alliance LLC now owns 15,112 shares of the medical equipment provider's stock valued at $8,212,000 after acquiring an additional 1,205 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Up 0.8%

Shares of Intuitive Surgical stock traded up $3.68 on Tuesday, reaching $448.23. The company's stock had a trading volume of 450,218 shares, compared to its average volume of 2,040,081. The company has a market capitalization of $160.68 billion, a P/E ratio of 62.58, a PEG ratio of 4.60 and a beta of 1.61. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a 50-day moving average price of $475.20 and a 200-day moving average price of $502.92.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 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 firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ISRG. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group upped their price target on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. BTIG Research upped their price target on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

Insider Buying and Selling

In other Intuitive Surgical 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 sale, the director owned 1,074 shares of the company's stock, valued at $504,898.14. This trade represents a 23.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Company 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.