Sovran Advisors LLC Buys 713 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Sovran Advisors LLC significantly increased its stake in Intuitive Surgical, purchasing an additional 713 shares, bringing its total holdings to 1,447 shares valued at approximately $763,000.
• Intuitive Surgical reported strong quarterly earnings, with earnings per share of $2.19, exceeding analyst expectations of $1.93, alongside a revenue of $2.44 billion.
• Several analysts have revised their price targets for Intuitive Surgical, with a consensus target price now at $595.95, indicating a generally positive outlook on the stock's performance.

Sovran Advisors LLC increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 97.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,447 shares of the medical equipment provider's stock after buying an additional 713 shares during the period. Sovran Advisors LLC's holdings in Intuitive Surgical were worth $763,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sivia Capital Partners LLC boosted its holdings in shares of Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after buying an additional 34 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Intuitive Surgical by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 10,884 shares of the medical equipment provider's stock worth $5,914,000 after purchasing an additional 295 shares in the last quarter. Pines Wealth Management LLC raised its stake in Intuitive Surgical by 27.5% in the 2nd quarter. Pines Wealth Management LLC now owns 603 shares of the medical equipment provider's stock worth $328,000 after purchasing an additional 130 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in Intuitive Surgical by 7.4% in the 2nd quarter. Pallas Capital Advisors LLC now owns 1,786 shares of the medical equipment provider's stock worth $970,000 after purchasing an additional 123 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in Intuitive Surgical by 0.8% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider's stock worth $1,374,000 after purchasing an additional 19 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

ISRG stock opened at $438.72 on Friday. The company has a 50 day simple moving average of $476.64 and a 200 day simple moving average of $504.12. The stock has a market cap of $157.27 billion, a price-to-earnings ratio of 61.19, a P/E/G ratio of 4.57 and a beta of 1.61. 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 released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. On average, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. Truist Financial lifted their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. UBS Group lifted their price objective on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $615.00 target price on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company boosted their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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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