Bleakley Financial Group LLC Trims Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Bleakley Financial Group LLC reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 69.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,378 shares of the medical equipment provider’s stock after selling 19,141 shares during the period. Bleakley Financial Group LLC’s holdings in Intuitive Surgical were worth $4,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. lifted its position in Intuitive Surgical by 34.4% during the first quarter. NBC Securities Inc. now owns 121 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 31 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Intuitive Surgical by 7.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 930 shares of the medical equipment provider’s stock worth $371,000 after acquiring an additional 67 shares in the last quarter. Signal Advisors Wealth LLC purchased a new position in Intuitive Surgical during the 1st quarter valued at about $203,000. &PARTNERS purchased a new position in Intuitive Surgical during the 1st quarter valued at about $293,000. Finally, International Assets Investment Management LLC boosted its stake in Intuitive Surgical by 9.7% during the first quarter. International Assets Investment Management LLC now owns 2,234 shares of the medical equipment provider’s stock worth $882,000 after acquiring an additional 198 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, SVP Henry L. Charlton sold 40,243 shares of Intuitive Surgical stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the transaction, the senior vice president now directly owns 3,001 shares in the company, valued at approximately $1,461,006.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the sale, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig H. Barratt sold 1,400 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total transaction of $641,382.00. The disclosure for this sale can be found here. Insiders sold 53,120 shares of company stock worth $25,528,753 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Intuitive Surgical Stock Up 10.0 %

Shares of NASDAQ:ISRG opened at $521.15 on Friday. The stock has a market capitalization of $184.85 billion, a PE ratio of 94.07, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39. The firm’s 50 day moving average price is $483.85 and its 200-day moving average price is $437.79. Intuitive Surgical, Inc. has a twelve month low of $254.85 and a twelve month high of $523.34.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ISRG shares. Leerink Partners lifted their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a report on Thursday. Evercore ISI reissued a “cautious” rating on shares of Intuitive Surgical in a report on Friday. Piper Sandler reissued an “overweight” rating and issued a $538.00 target price (up from $495.00) on shares of Intuitive Surgical in a research note on Friday. Truist Financial lifted their price target on Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on shares of Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus target price of $503.75.

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.