Harbor Investment Advisory LLC Reduces Holdings in Intuitive Surgical, Inc. $ISRG

Harbor Investment Advisory LLC decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 29.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,879 shares of the medical equipment provider’s stock after selling 1,600 shares during the period. Harbor Investment Advisory LLC’s holdings in Intuitive Surgical were worth $1,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after purchasing an additional 670,302 shares during the last quarter. State Street Corp lifted its stake in Intuitive Surgical by 1.2% in the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after purchasing an additional 182,871 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intuitive Surgical by 1.4% during the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after buying an additional 109,904 shares during the period. Norges Bank bought a new position in shares of Intuitive Surgical during the second quarter valued at approximately $2,569,260,000. Finally, Invesco Ltd. raised its holdings in shares of Intuitive Surgical by 4.8% in the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock worth $2,402,488,000 after buying an additional 201,159 shares during the period. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

ISRG has been the subject of several research analyst reports. Truist Financial lifted their target price on Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. Evercore ISI set a $580.00 target price on shares of Intuitive Surgical in a research note on Monday, January 5th. Piper Sandler raised their target price on shares of Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $622.17.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 464 shares of Intuitive Surgical stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $548.49, for a total value of $254,499.36. Following the transaction, the senior vice president owned 131 shares in the company, valued at $71,852.19. The trade was a 77.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary S. Guthart sold 22,806 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $570.89, for a total transaction of $13,019,717.34. Following the completion of the transaction, the insider owned 2,694 shares of the company’s stock, valued at $1,537,977.66. This represents a 89.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 114,007 shares of company stock valued at $63,533,844 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Down 2.3%

Shares of ISRG stock opened at $572.74 on Tuesday. The firm has a market cap of $205.32 billion, a price-to-earnings ratio of 75.76, a PEG ratio of 4.77 and a beta of 1.67. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The company’s 50 day moving average is $566.53 and its 200 day moving average is $511.65.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the firm earned $1.84 EPS. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS 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.