1776 Wealth LLC Reduces Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

1776 Wealth LLC cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,497 shares of the medical equipment provider’s stock after selling 89 shares during the period. 1776 Wealth LLC’s holdings in Intuitive Surgical were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Capital World Investors lifted its position in Intuitive Surgical by 1.0% in the first quarter. Capital World Investors now owns 7,284,269 shares of the medical equipment provider’s stock worth $2,907,079,000 after buying an additional 73,634 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Intuitive Surgical by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock worth $1,890,676,000 after acquiring an additional 24,183 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Intuitive Surgical by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,398,193 shares of the medical equipment provider’s stock worth $1,066,837,000 after purchasing an additional 70,556 shares during the period. Clearbridge Investments LLC grew its holdings in Intuitive Surgical by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,981,297 shares of the medical equipment provider’s stock valued at $881,380,000 after purchasing an additional 30,449 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Intuitive Surgical by 15.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,483,406 shares of the medical equipment provider’s stock worth $659,893,000 after purchasing an additional 197,841 shares during the period. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Trading Down 1.9 %

Shares of ISRG stock traded down $10.19 during mid-day trading on Friday, reaching $527.61. The stock had a trading volume of 1,447,901 shares, compared to its average volume of 1,461,285. Intuitive Surgical, Inc. has a 1-year low of $295.02 and a 1-year high of $544.38. The firm has a market cap of $187.92 billion, a price-to-earnings ratio of 84.82, a PEG ratio of 5.28 and a beta of 1.39. The business’s fifty day moving average is $499.29 and its 200-day moving average is $457.28.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. On average, analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

ISRG has been the subject of several recent analyst reports. Robert W. Baird boosted their target price on Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their price target on Intuitive Surgical from $475.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Leerink Partners upped their target price on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. BTIG Research set a $535.00 price target on Intuitive Surgical in a report on Friday, October 18th. Finally, Citigroup upped their price objective on Intuitive Surgical from $512.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $513.74.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. This represents a 93.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary S. Guthart sold 18,151 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the sale, the chief executive officer now directly owns 24,219 shares in the company, valued at approximately $12,391,166.97. The trade was a 42.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,178 shares of company stock worth $45,897,071. 0.90% of the stock is owned by corporate 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.