Intuitive Surgical, Inc. $ISRG Shares Sold by Spire Wealth Management

Spire Wealth Management decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 63.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,036 shares of the medical equipment provider’s stock after selling 13,866 shares during the period. Spire Wealth Management’s holdings in Intuitive Surgical were worth $3,594,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Tobam grew its stake in Intuitive Surgical by 666.7% in the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC acquired a new position in Intuitive Surgical during the second quarter worth about $27,000. Princeton Global Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $30,000. Riggs Asset Managment Co. Inc. grew its position in shares of Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. Finally, First Command Advisory Services Inc. increased its stake in shares of Intuitive Surgical by 3,750.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ISRG shares. Rothschild & Co Redburn upped their target price on Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group upped their price objective on Intuitive Surgical from $567.00 to $621.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Citigroup downgraded shares of Intuitive Surgical from a “buy” rating to a “neutral” rating and cut their target price for the company from $650.00 to $635.00 in a research note on Thursday, December 11th. Finally, Truist Financial raised their price target on shares of Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $616.00.

Intuitive Surgical Stock Performance

ISRG opened at $585.08 on Friday. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The company’s 50 day simple moving average is $564.92 and its 200 day simple moving average is $511.04. The stock has a market capitalization of $209.74 billion, a PE ratio of 77.39, a P/E/G ratio of 4.82 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. Intuitive Surgical’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Myriam Curet sold 7,562 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $548.43, for a total value of $4,147,227.66. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at $193,595.79. This trade represents a 95.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David J. Rosa sold 24,500 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.55, for a total value of $13,414,975.00. Following the sale, the chief executive officer owned 234,256 shares of the company’s stock, valued at $128,266,872.80. The trade was a 9.47% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 114,007 shares of company stock worth $63,533,844. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.