Cercano Management LLC Sells 8,614 Shares of Intuitive Surgical, Inc. $ISRG

Cercano Management LLC lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 93.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 621 shares of the medical equipment provider’s stock after selling 8,614 shares during the period. Cercano Management LLC’s holdings in Intuitive Surgical were worth $352,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ISRG. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. raised its holdings in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in Intuitive Surgical in the 3rd quarter valued at approximately $27,000. Olistico Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter valued at approximately $28,000. Finally, Caitlin John LLC bought a new position in Intuitive Surgical in the 3rd quarter valued at approximately $30,000. Institutional investors own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In other news, SVP Mark Brosius sold 645 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares of the company’s stock, valued at $782,321.13. This trade represents a 28.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $446.95, for a total transaction of $178,780.00. Following the sale, the executive vice president directly owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 4,833 shares of company stock worth $2,357,582. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Down 2.9%

Shares of ISRG stock opened at $412.26 on Tuesday. The company has a market cap of $146.01 billion, a price-to-earnings ratio of 49.97, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. Intuitive Surgical, Inc. has a 52 week low of $411.83 and a 52 week high of $603.88. The firm has a 50 day moving average of $452.19 and a 200-day moving average of $504.81.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 EPS. Analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research reports. Truist Financial dropped their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Wall Street Zen lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Piper Sandler dropped their price objective on shares of Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Finally, HSBC lowered their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $576.71.

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.