D.A. Davidson & CO. Purchases 3,317 Shares of Intuitive Surgical, Inc. $ISRG

D.A. Davidson & CO. grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 21.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,942 shares of the medical equipment provider’s stock after acquiring an additional 3,317 shares during the period. D.A. Davidson & CO.’s holdings in Intuitive Surgical were worth $8,732,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new position in Intuitive Surgical during the 4th quarter worth $25,000. Newbridge Financial Services Group Inc. increased its stake in Intuitive Surgical by 300.0% during the fourth 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 purchased a new stake in shares of Intuitive Surgical in the 4th quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $31,000. Finally, Vermillion Wealth Management Inc. grew its stake in Intuitive Surgical by 58.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 25 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president directly owned 5,720 shares of the company’s stock, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the completion of the transaction, the director owned 239 shares in the company, valued at $113,156.94. This trade represents a 67.66% 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. Over the last three months, insiders have sold 7,169 shares of company stock worth $3,059,135. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Trading Down 14.1%

NASDAQ ISRG opened at $345.42 on Friday. The stock’s 50 day moving average is $415.28 and its two-hundred day moving average is $467.88. Intuitive Surgical, Inc. has a 1-year low of $344.55 and a 1-year high of $603.88. The company has a market capitalization of $122.33 billion, a price-to-earnings ratio of 39.57, a PEG 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, topping analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the company earned $1.81 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Trending Headlines about Intuitive Surgical

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus decreased their target price on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a research report on Friday. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a research report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price target on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday. Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Truist Financial reduced their price objective on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $523.46.

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.