Florida Trust Wealth Management Co Has $1.45 Million Holdings in Intuitive Surgical, Inc. $ISRG

Florida Trust Wealth Management Co increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 51.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,252 shares of the medical equipment provider’s stock after purchasing an additional 1,104 shares during the quarter. Florida Trust Wealth Management Co’s holdings in Intuitive Surgical were worth $1,454,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ISRG. Norges Bank bought a new position in Intuitive Surgical in the second quarter valued at approximately $2,569,260,000. Vanguard Group Inc. increased its stake in shares of Intuitive Surgical by 2.1% in 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. Jennison Associates LLC raised its holdings in shares of Intuitive Surgical by 20.4% during the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock worth $1,696,738,000 after buying an additional 528,359 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Intuitive Surgical by 89.3% during the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock worth $428,386,000 after buying an additional 371,806 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Intuitive Surgical by 27.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,089,293 shares of the medical equipment provider’s stock worth $591,933,000 after buying an additional 231,980 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ISRG. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. Piper Sandler increased their price objective on shares of Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Daiwa Capital Markets upped their price target on shares of Intuitive Surgical from $510.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Wells Fargo & Company increased their price target on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Finally, Barclays restated an “overweight” rating and set a $686.00 price objective (up previously from $635.00) on shares of Intuitive Surgical in a research report on Wednesday, January 7th. Two research 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 stock. According to data from MarketBeat.com, Intuitive Surgical 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, CEO David J. Rosa sold 24,500 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $547.55, for a total value of $13,414,975.00. Following the completion of the sale, the chief executive officer directly owned 234,256 shares in the company, valued at approximately $128,266,872.80. This trade represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 28,800 shares of Intuitive Surgical stock in a transaction on Friday, October 24th. The shares were sold at an average price of $547.56, for a total transaction of $15,769,728.00. Following the completion of the sale, the insider directly owned 27,027 shares of the company’s stock, valued at approximately $14,798,904.12. This trade represents a 51.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,007 shares of company stock worth $63,533,844 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $535.00 on Tuesday. The stock has a market capitalization of $191.79 billion, a P/E ratio of 70.77, a P/E/G ratio of 4.35 and a beta of 1.67. The business has a 50 day simple moving average of $565.50 and a 200 day simple moving average of $511.79. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Equities analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current 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.