McLaughlin Asset Management Inc. Buys Shares of 2,828 Intuitive Surgical, Inc. $ISRG

McLaughlin Asset Management Inc. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,828 shares of the medical equipment provider’s stock, valued at approximately $1,602,000. Intuitive Surgical accounts for 1.4% of McLaughlin Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds have also made changes to their positions in the business. Riversedge Advisors LLC grew its holdings in shares of Intuitive Surgical by 1.9% in the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider’s stock valued at $510,000 after purchasing an additional 17 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in Intuitive Surgical by 2.1% during the 4th quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider’s stock worth $521,000 after buying an additional 19 shares during the period. Prosperity Consulting Group LLC lifted its holdings in Intuitive Surgical by 0.5% during the 3rd quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after buying an additional 19 shares in the last quarter. Sunburst Financial Group LLC lifted its holdings in Intuitive Surgical by 4.3% during the 4th quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock worth $275,000 after buying an additional 20 shares in the last quarter. Finally, WoodTrust Financial Corp boosted its position in Intuitive Surgical by 0.5% in the 4th quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock valued at $2,367,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ISRG. Citigroup upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target for the company in a research note on Wednesday, March 11th. Truist Financial reduced their price objective on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Piper Sandler reiterated an “overweight” rating and issued a $580.00 target price on shares of Intuitive Surgical in a report on Tuesday, June 2nd. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. cut their price target on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average price target of $573.42.

Insider Buying and Selling at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,169 shares of company stock worth $3,059,135 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Up 1.1%

NASDAQ ISRG opened at $406.78 on Friday. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The firm has a 50 day moving average of $439.54 and a two-hundred day moving average of $491.05. The stock has a market capitalization of $144.07 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.