Meridian Wealth Management LLC Increases Holdings in Intuitive Surgical, Inc. (ISRG)

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.



In other Intuitive Surgical news, CEO Gary S. Guthart sold 28,085 shares of Intuitive Surgical stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $542.78, for a total transaction of $15,243,976.30. Following the completion of the transaction, the chief executive officer now directly owns 368,704 shares of the company’s stock, valued at $200,125,157.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Salvatore Brogna sold 2,090 shares of Intuitive Surgical stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $541.88, for a total value of $1,132,529.20. Following the transaction, the chief operating officer now directly owns 2,049 shares of the company’s stock, valued at $1,110,312.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,512 shares of company stock valued at $35,318,293. Company insiders own 2.20% of the company’s stock.

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.

TRADEMARK VIOLATION WARNING: This piece was published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://dakotafinancialnews.com/2019/02/11/meridian-wealth-management-llc-increases-holdings-in-intuitive-surgical-inc-isrg.html.

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?

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG).

Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

Receive News & Ratings for Intuitive Surgical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuitive Surgical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply