Corient Private Wealth LLC Raises Holdings in Intuitive Surgical, Inc. $ISRG

Corient Private Wealth LLC increased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 62.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 521,442 shares of the medical equipment provider’s stock after purchasing an additional 199,659 shares during the quarter. Corient Private Wealth LLC’s holdings in Intuitive Surgical were worth $295,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Holos Integrated Wealth LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter worth $28,000. Caitlin John LLC bought a new stake in Intuitive Surgical during the third quarter valued at about $30,000. Finally, Laurel Wealth Advisors LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $31,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $406.78 on Friday. The business’s 50-day simple moving average is $439.54 and its two-hundred day simple moving average is $491.05. The company has a market cap of $144.07 billion, a PE ratio of 49.31, a PEG ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. As a group, analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 over the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ISRG shares. TD Cowen reduced their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Barclays set a $651.00 price target on shares of Intuitive Surgical and gave the company an “overweight” rating in a report on Thursday, April 23rd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research report on Monday, April 13th. The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group decreased their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $573.42.

Intuitive Surgical 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.