Merit Financial Group LLC Has $3.87 Million Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Merit Financial Group LLC grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,811 shares of the medical equipment provider’s stock after buying an additional 1,147 shares during the quarter. Merit Financial Group LLC’s holdings in Intuitive Surgical were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Intuitive Surgical by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock valued at $16,813,478,000 after purchasing an additional 360,591 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intuitive Surgical by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock valued at $4,039,200,000 after buying an additional 243,802 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Intuitive Surgical by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider’s stock valued at $2,541,356,000 after buying an additional 86,488 shares during the last quarter. Norges Bank bought a new stake in Intuitive Surgical during the 4th quarter worth about $2,401,493,000. Finally, Invesco Ltd. increased its position in Intuitive Surgical by 7.7% in the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider’s stock valued at $2,165,184,000 after acquiring an additional 295,025 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ISRG. Robert W. Baird reduced their target price on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler decreased their price objective on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI dropped their target price on Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. Truist Financial decreased their price target on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada cut their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $596.05.

Intuitive Surgical Stock Up 1.1%

Shares of ISRG stock opened at $557.95 on Thursday. Intuitive Surgical, Inc. has a 12-month low of $405.08 and a 12-month high of $616.00. The firm has a fifty day moving average of $519.52 and a 200-day moving average of $538.95. The company has a market capitalization of $199.98 billion, a price-to-earnings ratio of 87.04, a P/E/G ratio of 5.85 and a beta of 1.67.

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

Insider Buying and Selling

In other news, SVP Mark Brosius sold 489 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $533.18, for a total transaction of $260,725.02. Following the completion of the transaction, the senior vice president now directly owns 2,091 shares in the company, valued at $1,114,879.38. This represents a 18.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $499.22, for a total value of $5,763,494.90. Following the completion of the sale, the executive vice president now directly owns 5,224 shares in the company, valued at approximately $2,607,925.28. This represents a 68.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,716 shares of company stock worth $12,831,288. 0.70% of the stock is owned by corporate insiders.

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.