Independent Financial Group LLC Purchases Shares of 8,563 Intuitive Surgical, Inc. $ISRG

Independent Financial Group LLC purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the first quarter, HoldingsChannel.com reports. The fund purchased 8,563 shares of the medical equipment provider’s stock, valued at approximately $3,947,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. lifted its position in 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 acquiring an additional 33 shares during the last quarter. Olistico Wealth LLC acquired a new position in Intuitive Surgical during the 4th quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new position in Intuitive Surgical during the 4th quarter worth $31,000. Finally, Vermillion Wealth Management Inc. boosted its holdings in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 25 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ISRG. Leerink Partners lowered their price target on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday. BTIG Research cut their price objective on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird decreased their target price on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank Of Canada lowered their target price on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, HSBC dropped their price target on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $523.46.

Insider Activity at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the transaction, the director directly owned 239 shares of the company’s stock, valued at approximately $113,156.94. This trade represents a 67.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have 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.

Intuitive Surgical News Summary

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $345.42 on Friday. The company’s fifty day moving average is $415.28 and its two-hundred day moving average is $467.88. Intuitive Surgical, Inc. has a 52-week low of $344.55 and a 52-week high of $603.88. The firm has a market capitalization of $122.33 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal 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.