Wealthfront Advisers LLC Cuts Holdings in Intuitive Surgical, Inc. $ISRG

Wealthfront Advisers LLC lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,076 shares of the medical equipment provider’s stock after selling 6,091 shares during the period. Wealthfront Advisers LLC’s holdings in Intuitive Surgical were worth $17,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Tobam lifted its position in shares of Intuitive Surgical by 666.7% during the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 40 shares during the last quarter. Kilter Group LLC acquired a new stake in Intuitive Surgical in the second quarter valued at $27,000. Princeton Global Asset Management LLC purchased a new stake in Intuitive Surgical during the 2nd quarter worth about $30,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Intuitive Surgical during the 3rd quarter worth about $27,000. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of Intuitive Surgical by 84.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 24,500 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $530.10, for a total value of $12,987,450.00. Following the completion of the transaction, the director owned 3,694 shares in the company, valued at approximately $1,958,189.40. This represents a 86.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Myriam Curet sold 230 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $532.61, for a total transaction of $122,500.30. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 55,530 shares of company stock valued at $30,459,295. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $495.15 on Wednesday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $609.08. The company has a market cap of $175.84 billion, a P/E ratio of 62.76, a PEG ratio of 3.83 and a beta of 1.65. The firm has a fifty day moving average of $546.68 and a two-hundred day moving average of $510.62.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ISRG. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. UBS Group reiterated a “neutral” rating on shares of Intuitive Surgical in a research note on Thursday, January 15th. Leerink Partners boosted their price target on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. HSBC lifted their target price on Intuitive Surgical from $644.00 to $653.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Raymond James Financial upped their target price on Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $617.23.

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.