Elite Wealth Management Inc. Sells 15,589 Shares of Intuitive Surgical, Inc. $ISRG

Elite Wealth Management Inc. lowered its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 96.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596 shares of the medical equipment provider’s stock after selling 15,589 shares during the quarter. Elite Wealth Management Inc.’s holdings in Intuitive Surgical were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ISRG. Empowered Funds LLC boosted its stake in Intuitive Surgical by 143.1% during the first quarter. Empowered Funds LLC now owns 43,981 shares of the medical equipment provider’s stock worth $20,275,000 after buying an additional 25,886 shares during the period. Evelyn Partners Asset Management Ltd raised its position in Intuitive Surgical by 3.9% in the 1st quarter. Evelyn Partners Asset Management Ltd now owns 4,942 shares of the medical equipment provider’s stock worth $2,278,000 after purchasing an additional 187 shares during the period. Evelyn Partners Investment Management Europe Ltd raised its position in Intuitive Surgical by 2.7% in the 1st quarter. Evelyn Partners Investment Management Europe Ltd now owns 1,044 shares of the medical equipment provider’s stock worth $481,000 after purchasing an additional 27 shares during the period. Evelyn Partners Investment Management LLP lifted its stake in Intuitive Surgical by 16.6% in the first quarter. Evelyn Partners Investment Management LLP now owns 62,473 shares of the medical equipment provider’s stock worth $28,799,000 after purchasing an additional 8,874 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd lifted its stake in Intuitive Surgical by 7.2% in the first quarter. Evelyn Partners Investment Management Services Ltd now owns 23,884 shares of the medical equipment provider’s stock worth $11,010,000 after purchasing an additional 1,601 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director directly owned 120 shares of the company’s stock, valued at approximately $55,620. The trade was a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. 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 sold a total of 6,669 shares of company stock worth $2,822,405 in the last 90 days. 0.60% of the stock is owned by corporate insiders.

Intuitive Surgical Trading Up 5.7%

Shares of ISRG stock opened at $356.83 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The stock has a fifty day simple moving average of $405.22 and a two-hundred day simple moving average of $457.57. The stock has a market capitalization of $126.06 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 2.44 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The firm 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. Research analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Analysts Set New Price Targets

ISRG has been the topic of a number of analyst reports. Piper Sandler set a $357.44 target price on Intuitive Surgical in a research note on Monday. Robert W. Baird decreased their price target on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a report on Wednesday, May 27th. Jefferies Financial Group reduced their target price on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. Twenty-one analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $519.13.

Intuitive Surgical 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.