SteelPeak Wealth LLC Purchases 2,286 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• SteelPeak Wealth LLC increased its stake in Intuitive Surgical by 7.5%, acquiring an additional 2,286 shares, giving it a total of 32,629 shares valued at approximately $17.73 million.
• Several institutional investors also increased their holdings in Intuitive Surgical; with Nuveen LLC purchasing a new stake valued at $1.72 billion and Goldman Sachs growing its stake by 26.1%.
• A majority of analysts maintain a consensus rating of "Moderate Buy" for Intuitive Surgical, with a target price averaging $594.19 after several price adjustments from different financial institutions.

SteelPeak Wealth LLC boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 32,629 shares of the medical equipment provider's stock after purchasing an additional 2,286 shares during the period. SteelPeak Wealth LLC's holdings in Intuitive Surgical were worth $17,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ISRG. Nuveen LLC purchased a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $1,715,899,000. Goldman Sachs Group Inc. grew its stake in Intuitive Surgical by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after purchasing an additional 584,375 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock valued at $1,680,922,000 after purchasing an additional 566,979 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Intuitive Surgical by 15.0% during the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock worth $1,732,975,000 after purchasing an additional 457,080 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Intuitive Surgical by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after buying an additional 453,335 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ISRG shares. Truist Financial raised their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday. BTIG Research reaffirmed a "buy" rating and issued a $571.00 price target on shares of Intuitive Surgical in a report on Wednesday, October 1st. The Goldman Sachs Group reduced their price objective on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a report on Wednesday, October 1st. Finally, Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Fourteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $594.19.

Insider Buying and Selling at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the business'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. The trade was a 59.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction that occurred 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 directly owned 353 shares in the company, valued at $173,845.44. This trade represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock valued at $21,716,492 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $449.69 on Tuesday. The stock has a market capitalization of $161.20 billion, a price-to-earnings ratio of 62.72, a PEG ratio of 4.74 and a beta of 1.61. The company's fifty day simple moving average is $462.67 and its two-hundred day simple moving average is $499.82. 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 posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.35 billion. During the same period last year, the company earned $1.78 earnings per share. The business's revenue for the quarter was up 21.4% on a year-over-year basis. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS 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.

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