Intuitive Surgical, Inc. $ISRG Position Raised by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 808.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,778 shares of the medical equipment provider’s stock after buying an additional 4,252 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Intuitive Surgical were worth $1,943,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ISRG. Bank of America Corp DE raised its position in Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after acquiring an additional 116,292 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Intuitive Surgical during the 2nd quarter valued at approximately $1,335,753,000. Amundi grew its position in shares of Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after acquiring an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after purchasing an additional 1,027,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Intuitive Surgical by 10.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock worth $769,948,000 after purchasing an additional 184,044 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ISRG shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. Oppenheimer reissued an “outperform” rating and set a $500.00 price objective on shares of Intuitive Surgical in a report on Wednesday, October 21st. Stifel Nicolaus reduced their price objective on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a report on Friday, July 17th. Robert W. Baird raised their target price on Intuitive Surgical from $513.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Finally, Leerink Partners set a $503.00 target price on Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Insider Buying and Selling

In related news, Director Gary Guthart sold 20,095 shares of the business’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the sale, the director directly owned 1,204,530 shares in the company, valued at approximately $543,977,793.30. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $453.21, for a total value of $1,834,140.87. Following the sale, the vice president directly owned 1,026 shares in the company, valued at $464,993.46. This trade represents a 79.78% 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 sold 38,778 shares of company stock valued at $16,814,967 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Trading Up 0.9%

ISRG opened at $440.75 on Wednesday. The company has a 50 day moving average of $404.05 and a 200 day moving average of $432.90. The company has a market cap of $152.78 billion, a PE ratio of 53.30, a price-to-earnings-growth ratio of 3.01 and a beta of 1.45. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.35. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 EPS. Research analysts forecast that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current fiscal year.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.