Connecticut Wealth Management LLC Acquires 27 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Connecticut Wealth Management LLC grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,053 shares of the medical equipment provider’s stock after purchasing an additional 27 shares during the period. Connecticut Wealth Management LLC’s holdings in Intuitive Surgical were worth $549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sycomore Asset Management grew its holdings in shares of Intuitive Surgical by 27.4% in the fourth quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider’s stock worth $9,214,000 after acquiring an additional 4,079 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Intuitive Surgical by 5.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider’s stock worth $5,138,000 after acquiring an additional 525 shares during the period. Castleark Management LLC grew its holdings in shares of Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider’s stock worth $47,221,000 after acquiring an additional 2,990 shares during the period. Truist Financial Corp grew its holdings in shares of Intuitive Surgical by 3.0% in the fourth quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider’s stock worth $129,494,000 after acquiring an additional 7,298 shares during the period. Finally, Global X Japan Co. Ltd. grew its holdings in shares of Intuitive Surgical by 9.8% in the fourth quarter. Global X Japan Co. Ltd. now owns 46,289 shares of the medical equipment provider’s stock worth $24,161,000 after acquiring an additional 4,140 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the sale, the director now directly owns 6,371 shares in the company, valued at $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the sale, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,700 shares of company stock worth $16,865,621. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Down 0.8%

NASDAQ ISRG opened at $542.67 on Friday. The firm has a market cap of $194.50 billion, a price-to-earnings ratio of 84.66, a price-to-earnings-growth ratio of 5.85 and a beta of 1.70. The business has a 50-day moving average price of $510.44 and a 200-day moving average price of $537.67. Intuitive Surgical, Inc. has a twelve month low of $396.15 and a twelve month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. During the same period in the previous year, the business earned $1.50 earnings per share. Research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on ISRG shares. Robert W. Baird cut their price target on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Bernstein Bank boosted their price target on Intuitive Surgical from $655.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Truist Financial cut their price target on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. CICC Research started coverage on Intuitive Surgical in a report on Monday, January 27th. They set a “neutral” rating and a $550.00 price target for the company. Finally, Piper Sandler cut their price target on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $596.05.

Intuitive Surgical Company Profile

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.