Welch & Forbes LLC Sells 137 Shares of Intuitive Surgical, Inc. $ISRG

Welch & Forbes LLC reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.4% in the second quarter, Holdings Channel.com reports. The fund owned 9,434 shares of the medical equipment provider’s stock after selling 137 shares during the period. Welch & Forbes LLC’s holdings in Intuitive Surgical were worth $5,127,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Intuitive Surgical during the first quarter valued at $1,715,899,000. Goldman Sachs Group Inc. increased its holdings in Intuitive Surgical by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock worth $1,396,496,000 after buying an additional 584,375 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Intuitive Surgical by 20.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock worth $1,680,922,000 after buying an additional 566,979 shares during the last quarter. Jennison Associates LLC lifted its stake in 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 valued at $1,696,738,000 after acquiring an additional 528,359 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Intuitive Surgical by 15.0% during the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock valued at $1,732,975,000 after acquiring an additional 457,080 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $534.28 on Monday. The business’s fifty day moving average is $464.32 and its 200 day moving average is $498.73. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The company has a market capitalization of $191.53 billion, a PE ratio of 70.67, a price-to-earnings-growth ratio of 4.94 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Mizuho set a $575.00 price target on Intuitive Surgical in a report on Wednesday, October 22nd. Piper Sandler lifted their price objective on Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Hsbc Global Res upgraded Intuitive Surgical to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, HSBC raised their target price on Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $608.92.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, CEO David J. Rosa sold 24,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 234,256 shares in the company, valued at $128,266,872.80. This represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider owned 19,827 shares in the company, valued at $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 96,011 shares of company stock valued at $50,309,042. 0.70% of the stock is currently owned by company insiders.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.