Financial Connections Group Inc. Reduces Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Financial Connections Group Inc. cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 79.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 81 shares of the medical equipment provider’s stock after selling 320 shares during the period. Financial Connections Group Inc.’s holdings in Intuitive Surgical were worth $33,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geneva Capital Management LLC lifted its position in shares of Intuitive Surgical by 20.3% during the first quarter. Geneva Capital Management LLC now owns 5,390 shares of the medical equipment provider’s stock worth $2,151,000 after purchasing an additional 911 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in shares of Intuitive Surgical by 1,112.1% during the first quarter. McClarren Financial Advisors Inc. now owns 400 shares of the medical equipment provider’s stock worth $160,000 after acquiring an additional 367 shares during the last quarter. Csenge Advisory Group grew its position in Intuitive Surgical by 16.4% in the 1st quarter. Csenge Advisory Group now owns 1,229 shares of the medical equipment provider’s stock valued at $490,000 after buying an additional 173 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in Intuitive Surgical in the 1st quarter valued at $46,000. Finally, Signaturefd LLC grew its position in Intuitive Surgical by 7.5% in the 1st quarter. Signaturefd LLC now owns 6,843 shares of the medical equipment provider’s stock valued at $2,731,000 after buying an additional 479 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ISRG. Robert W. Baird lowered their price target on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Stifel Nicolaus increased their target price on shares of Intuitive Surgical from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Jefferies Financial Group increased their price objective on shares of Intuitive Surgical from $365.00 to $375.00 and gave the company a “hold” rating in a research report on Friday, April 19th. The Goldman Sachs Group initiated coverage on Intuitive Surgical in a research note on Thursday, May 30th. They set a “buy” rating and a $500.00 price objective on the stock. Finally, Piper Sandler raised their price objective on Intuitive Surgical from $435.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $410.32.

Intuitive Surgical Stock Performance

ISRG traded down $1.24 during trading on Thursday, reaching $443.50. The company had a trading volume of 1,818,494 shares, compared to its average volume of 1,508,481. The firm’s 50-day simple moving average is $414.51 and its 200 day simple moving average is $389.28. The company has a market cap of $157.31 billion, a price-to-earnings ratio of 80.28, a PEG ratio of 5.74 and a beta of 1.39. Intuitive Surgical, Inc. has a 12-month low of $254.85 and a 12-month high of $449.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Intuitive Surgical had a return on equity of 12.91% and a net margin of 27.16%. Intuitive Surgical’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 4.8 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 175 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $389.16, for a total transaction of $68,103.00. Following the completion of the sale, the senior vice president now directly owns 883 shares in the company, valued at approximately $343,628.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Craig H. Barratt sold 1,400 shares of Intuitive Surgical stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $421.06, for a total transaction of $589,484.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Brosius sold 175 shares of Intuitive Surgical stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $389.16, for a total value of $68,103.00. Following the sale, the senior vice president now owns 883 shares of the company’s stock, valued at $343,628.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,956 shares of company stock worth $6,927,011. 0.80% of the stock is currently owned by company insiders.

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.