Gradient Investments LLC Acquires 10,988 Shares of Intuitive Surgical, Inc. $ISRG

Gradient Investments LLC lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 30.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 47,640 shares of the medical equipment provider’s stock after acquiring an additional 10,988 shares during the quarter. Gradient Investments LLC’s holdings in Intuitive Surgical were worth $18,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. boosted its holdings in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Main Street Group LTD purchased a new position in shares of Intuitive Surgical during the first quarter valued at approximately $30,000. Laurel Wealth Advisors LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at approximately $31,000. Vermillion Wealth Management Inc. lifted its position in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 25 shares during the period. Finally, Turning Point Benefit Group Inc. lifted its position in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 50 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ISRG. Evercore set a $430.00 target price on shares of Intuitive Surgical in a research report on Monday, July 6th. Royal Bank Of Canada lowered their price target on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group cut their price objective on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Finally, Piper Sandler set a $357.44 price objective on Intuitive Surgical in a research report on Monday, July 27th. Twenty equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $509.02.

Intuitive Surgical Trading Up 1.4%

Shares of ISRG stock opened at $378.81 on Friday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a market cap of $133.83 billion, a P/E ratio of 43.39, a P/E/G ratio of 2.70 and a beta of 1.46. The company has a 50 day simple moving average of $392.87 and a two-hundred day simple moving average of $445.78.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.32. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $1.81 earnings per share. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,634 shares of company stock valued at $2,796,795 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

About Intuitive Surgical

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.