Bingham Private Wealth LLC Takes Position in Intuitive Surgical, Inc. $ISRG

Bingham Private Wealth LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,921 shares of the medical equipment provider’s stock, valued at approximately $1,088,000. Intuitive Surgical accounts for about 0.9% of Bingham Private Wealth LLC’s holdings, making the stock its 29th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SteelPeak Wealth LLC increased its stake in shares of Intuitive Surgical by 28.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after buying an additional 9,364 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Intuitive Surgical by 19.3% during the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after purchasing an additional 3,676 shares during the period. World Investment Advisors grew its stake in shares of Intuitive Surgical by 238.3% during the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock worth $2,415,000 after purchasing an additional 3,803 shares during the period. E. Ohman J or Asset Management AB grew its stake in shares of Intuitive Surgical by 4.1% during the third quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock worth $12,659,000 after purchasing an additional 1,123 shares during the period. Finally, Valley Wealth Managers Inc. grew its stake in shares of Intuitive Surgical by 52.7% during the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock worth $1,826,000 after purchasing an additional 1,409 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 1.8%

NASDAQ:ISRG opened at $467.22 on Wednesday. Intuitive Surgical, Inc. has a 1 year low of $427.84 and a 1 year high of $603.88. The stock has a market cap of $165.92 billion, a price-to-earnings ratio of 59.22, a PEG ratio of 3.58 and a beta of 1.68. The stock has a 50-day moving average price of $480.16 and a two-hundred day moving average price of $514.98.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. HSBC lifted their price objective on Intuitive Surgical from $644.00 to $653.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Barclays set a $712.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Monday, January 26th. Truist Financial lifted their price objective on Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Robert W. Baird decreased their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $604.73.

Insider Activity at Intuitive Surgical

In other news, SVP Mark Brosius sold 2,362 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the transaction, the senior vice president directly owned 3,554 shares of the company’s stock, valued at $1,772,308.72. This represents a 39.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Fredrik Widman sold 133 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $65,829.68. Following the transaction, the vice president directly owned 660 shares of the company’s stock, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,943 shares of company stock valued at $17,279,568 over the last ninety days. Company insiders own 0.60% of the company’s stock.

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.