Summit Securities Group LLC Purchases 2,956 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Summit Securities Group LLC significantly increased its holdings in Intuitive Surgical, Inc. by 5,186% in Q1, now owning 3,013 shares valued at approximately $1.49 million.
• The company's recent earnings report revealed a 21.4% year-over-year revenue increase, with earnings per share of $2.19, surpassing analyst expectations.
• Analysts generally maintain a positive outlook for Intuitive Surgical, with a consensus rating of "Moderate Buy" and an average target price of around $595.95.

Summit Securities Group LLC increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5,186.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,013 shares of the medical equipment provider's stock after acquiring an additional 2,956 shares during the quarter. Intuitive Surgical makes up about 0.2% of Summit Securities Group LLC's holdings, making the stock its 27th largest position. Summit Securities Group LLC's holdings in Intuitive Surgical were worth $1,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter worth about $26,000. Chilton Capital Management LLC raised its position in Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 43 shares during the period. Global Financial Private Client LLC raised its position in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 38 shares during the period. Elite Financial Inc. purchased a new position in Intuitive Surgical in the first quarter valued at about $26,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Intuitive Surgical during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their target price for the company from $515.00 to $440.00 in a research note on Monday, June 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday. Barclays decreased 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, Robert W. Baird dropped their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $595.95.

Insider Buying and Selling

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $498.64, for a total value of $3,935,765.52. Following the sale, the insider owned 13,187 shares of the company's stock, valued at $6,575,565.68. This trade represents a 37.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock worth $7,896,972 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Stock Up 0.3%

NASDAQ:ISRG traded up $1.25 during mid-day trading on Wednesday, hitting $480.45. 1,409,146 shares of the stock traded hands, compared to its average volume of 1,989,028. The business's 50-day moving average price is $506.84 and its 200 day moving average price is $523.82. The company has a market cap of $172.23 billion, a PE ratio of 67.01, a price-to-earnings-growth ratio of 5.04 and a beta of 1.59. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

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

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.