Raymond James Financial Inc. Sells 110,084 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Raymond James Financial Inc. has reduced its holdings in Intuitive Surgical, Inc. by 18.3%, selling 110,084 shares during the 1st quarter, and now owns 491,052 shares valued at approximately $243 million.
• Recent trading activity includes significant insider sales, with CEO Gary S. Guthart selling 2,800 shares and EVP Myriam Curet selling 4,500 shares, indicating a decrease in their ownership stakes.
• Intuitive Surgical reported earnings of $2.19 per share for the last quarter, exceeding analyst expectations, with a year-over-year revenue increase of 21.4%, reaching $2.44 billion.

Raymond James Financial Inc. lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 491,052 shares of the medical equipment provider's stock after selling 110,084 shares during the quarter. Raymond James Financial Inc. owned approximately 0.14% of Intuitive Surgical worth $243,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Castleark Management LLC raised its position in Intuitive Surgical by 3.4% during the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after acquiring an additional 2,990 shares in the last quarter. Arlington Trust Co LLC raised its position in Intuitive Surgical by 34.5% during the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after acquiring an additional 191 shares in the last quarter. Aveo Capital Partners LLC raised its position in Intuitive Surgical by 37.4% during the first quarter. Aveo Capital Partners LLC now owns 727 shares of the medical equipment provider's stock valued at $390,000 after acquiring an additional 198 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in Intuitive Surgical by 3.2% during the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock valued at $1,243,000 after acquiring an additional 78 shares in the last quarter. Finally, Longbow Finance SA raised its position in Intuitive Surgical by 132.0% during the first quarter. Longbow Finance SA now owns 19,699 shares of the medical equipment provider's stock valued at $9,756,000 after acquiring an additional 11,209 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the sale, the insider owned 18,520 shares in the company, valued at $9,171,844.80. The trade was a 13.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,839 shares of company stock worth $7,896,972 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Trading Up 0.7%

Shares of ISRG stock opened at $480.26 on Friday. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The firm's fifty day simple moving average is $508.75 and its 200 day simple moving average is $525.16. The firm has a market capitalization of $172.16 billion, a P/E ratio of 66.98, a price-to-earnings-growth ratio of 5.03 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.78 earnings per share. The business's revenue was up 21.4% compared to the same quarter last year. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Piper Sandler reiterated an "overweight" rating and set a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Barclays lowered their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Evercore ISI increased their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their price target for the company from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Wells Fargo & Company increased their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $595.95.

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.

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