Intuitive Surgical, Inc. (NASDAQ:ISRG) is Nova R Wealth Inc.’s 5th Largest Position

Nova R Wealth Inc. reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,605 shares of the medical equipment provider’s stock after selling 548 shares during the quarter. Intuitive Surgical accounts for approximately 5.3% of Nova R Wealth Inc.’s holdings, making the stock its 5th largest holding. Nova R Wealth Inc.’s holdings in Intuitive Surgical were worth $10,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Castleark Management LLC lifted its stake 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 in the last quarter. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $454,000. Whalerock Point Partners LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth $209,000. Tounjian Advisory Partners LLC bought a new stake in shares of Intuitive Surgical in the first quarter worth $5,152,000. Finally, Brighton Jones LLC raised its holdings in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after acquiring an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Activity

In related news, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the sale, the executive vice president now directly owns 5,224 shares in the company, valued at $2,695,113.84. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jami K. Nachtsheim sold 2,400 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at $3,312,920. This trade represents a 27.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Robert W. Baird cut their price objective on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada reduced their target price on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a “hold” rating to a “sell” rating and lowered their price target for the company from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Citigroup reissued a “buy” rating and set a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $588.95.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $521.63 on Thursday. Intuitive Surgical, Inc. has a one year low of $413.82 and a one year high of $616.00. The company has a 50-day simple moving average of $530.03 and a 200-day simple moving average of $536.86. The firm has a market capitalization of $186.96 billion, a P/E ratio of 76.49, a P/E/G ratio of 5.55 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business posted $1.50 EPS. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

About Intuitive Surgical

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.