SVB Wealth LLC Sells 787 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

SVB Wealth LLC trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,642 shares of the medical equipment provider’s stock after selling 787 shares during the period. SVB Wealth LLC’s holdings in Intuitive Surgical were worth $12,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ISRG. Chicago Capital LLC increased its stake in Intuitive Surgical by 1.0% in the 2nd quarter. Chicago Capital LLC now owns 29,244 shares of the medical equipment provider’s stock valued at $13,009,000 after buying an additional 294 shares during the last quarter. One Wealth Management Investment & Advisory Services LLC increased its stake in shares of Intuitive Surgical by 3.4% during the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 697 shares of the medical equipment provider’s stock worth $310,000 after purchasing an additional 23 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Intuitive Surgical by 35.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 71,305 shares of the medical equipment provider’s stock worth $31,720,000 after purchasing an additional 18,745 shares during the last quarter. Patron Partners LLC increased its stake in shares of Intuitive Surgical by 3.9% during the 2nd quarter. Patron Partners LLC now owns 1,845 shares of the medical equipment provider’s stock worth $821,000 after purchasing an additional 69 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Intuitive Surgical by 6.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 781 shares of the medical equipment provider’s stock worth $347,000 after purchasing an additional 45 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuitive Surgical

In other news, SVP Henry L. Charlton sold 40,243 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the transaction, the senior vice president now directly owns 3,001 shares in the company, valued at approximately $1,461,006.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intuitive Surgical news, EVP Robert Desantis sold 239 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $416.60, for a total transaction of $99,567.40. Following the completion of the transaction, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,293,799.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Henry L. Charlton sold 40,243 shares of the company’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 value of $19,591,902.12. Following the transaction, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,656 shares of company stock worth $24,700,644. 0.90% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Intuitive Surgical stock traded down $4.87 during mid-day trading on Friday, reaching $471.82. The stock had a trading volume of 1,700,169 shares, compared to its average volume of 1,518,588. Intuitive Surgical, Inc. has a fifty-two week low of $254.85 and a fifty-two week high of $493.97. The stock’s 50-day simple moving average is $458.74 and its 200-day simple moving average is $417.98. The firm has a market capitalization of $167.35 billion, a PE ratio of 85.17, a price-to-earnings-growth ratio of 5.43 and a beta of 1.39.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ISRG. Morgan Stanley lifted their target price on shares of Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Truist Financial boosted their price objective on shares of Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus boosted their price objective on shares of Intuitive Surgical from $430.00 to $475.00 and gave the company a “buy” rating in a report on Friday, July 19th. Piper Sandler upped their price target on shares of Intuitive Surgical from $490.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuitive Surgical from $475.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $446.45.

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.