Meridian Wealth Management LLC raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,096 shares of the medical equipment provider’s stock after purchasing an additional 591 shares during the period. Intuitive Surgical accounts for 2.8% of Meridian Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Meridian Wealth Management LLC’s holdings in Intuitive Surgical were worth $4,835,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in ISRG. Morgan Stanley grew its stake in shares of Intuitive Surgical by 119.5% in the third quarter. Morgan Stanley now owns 2,856,195 shares of the medical equipment provider’s stock worth $1,639,456,000 after acquiring an additional 1,554,896 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Intuitive Surgical by 25.7% in the third quarter. Crossmark Global Holdings Inc. now owns 14,564 shares of the medical equipment provider’s stock worth $8,360,000 after acquiring an additional 2,977 shares during the last quarter. Carillon Tower Advisers Inc. grew its stake in shares of Intuitive Surgical by 3.7% in the third quarter. Carillon Tower Advisers Inc. now owns 77,953 shares of the medical equipment provider’s stock worth $44,745,000 after acquiring an additional 2,754 shares during the last quarter. Evercore Wealth Management LLC acquired a new stake in shares of Intuitive Surgical in the third quarter worth $202,000. Finally, Resources Management Corp CT ADV acquired a new stake in shares of Intuitive Surgical in the third quarter worth $559,000. Institutional investors own 96.78% of the company’s stock.
Several equities research analysts have recently issued reports on ISRG shares. Cantor Fitzgerald restated a “buy” rating and issued a $620.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 19th. Canaccord Genuity upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating and raised their price objective for the stock from $550.00 to $610.00 in a research note on Friday, October 19th. They noted that the move was a valuation call. Piper Jaffray Companies raised their price objective on shares of Intuitive Surgical to $613.00 and gave the stock an “overweight” rating in a research note on Friday, October 19th. Raymond James raised their price objective on shares of Intuitive Surgical from $620.00 to $630.00 and gave the stock an “outperform” rating in a research note on Friday, October 19th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $560.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $566.40.
ISRG opened at $524.52 on Monday. Intuitive Surgical, Inc. has a fifty-two week low of $380.00 and a fifty-two week high of $581.12. The firm has a market cap of $59.20 billion, a price-to-earnings ratio of 55.27, a price-to-earnings-growth ratio of 3.91 and a beta of 1.12.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, January 24th. The medical equipment provider reported $2.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.07 by ($0.11). Intuitive Surgical had a return on equity of 18.11% and a net margin of 30.29%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts forecast that Intuitive Surgical, Inc. will post 10.07 EPS for the current fiscal year.
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Intuitive Surgical Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
Further Reading: Hedge Funds – Risk or Reward?
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