Spartan Wealth Advisory Services LLC Takes Position in Intuitive Surgical, Inc. $ISRG

Spartan Wealth Advisory Services LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 1st quarter, HoldingsChannel.com reports. The fund bought 4,259 shares of the medical equipment provider’s stock, valued at approximately $1,963,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Private Wealth Management LLC raised its stake in Intuitive Surgical by 21.0% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 869 shares of the medical equipment provider’s stock worth $401,000 after acquiring an additional 151 shares during the last quarter. Kesler Norman & Wride LLC grew its stake in Intuitive Surgical by 20.3% during the 1st quarter. Kesler Norman & Wride LLC now owns 2,540 shares of the medical equipment provider’s stock valued at $1,171,000 after purchasing an additional 429 shares during the last quarter. Heartland Bank & Trust Co grew its stake in Intuitive Surgical by 2.1% during the 1st quarter. Heartland Bank & Trust Co now owns 2,016 shares of the medical equipment provider’s stock valued at $929,000 after purchasing an additional 42 shares during the last quarter. Kera Capital Partners Inc. increased its holdings in shares of Intuitive Surgical by 2.5% in the first quarter. Kera Capital Partners Inc. now owns 1,063 shares of the medical equipment provider’s stock valued at $490,000 after purchasing an additional 26 shares during the period. Finally, Gryphon Financial Partners LLC increased its holdings in shares of Intuitive Surgical by 11.3% in the first quarter. Gryphon Financial Partners LLC now owns 1,543 shares of the medical equipment provider’s stock valued at $711,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $345.42 on Friday. The firm has a market capitalization of $122.33 billion, a P/E ratio of 39.57, a PEG ratio of 2.81 and a beta of 1.46. The stock has a 50-day simple moving average of $415.28 and a two-hundred day simple moving average of $467.88. Intuitive Surgical, Inc. has a fifty-two week low of $344.55 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, analysts forecast that Intuitive Surgical, Inc. will post 8.62 earnings per share for the current year.

Intuitive Surgical News Roundup

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Wall Street Analyst Weigh In

ISRG has been the subject of several research analyst reports. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada cut their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. BTIG Research cut their price target on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company reissued an “overweight” rating and set a $487.00 price target (down from $654.00) on shares of Intuitive Surgical in a research report on Friday. Finally, Evercore set a $430.00 price objective on shares of Intuitive Surgical in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $523.46.

About Intuitive Surgical

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.