Intuitive Surgical, Inc. $ISRG Stock Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 29.1% in the 3rd quarter, Holdings Channel reports. The firm owned 2,916 shares of the medical equipment provider’s stock after selling 1,199 shares during the period. Cabot Wealth Management Inc.’s holdings in Intuitive Surgical were worth $1,186,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management raised its holdings in shares of Intuitive Surgical by 9.9% during the 3rd quarter. Ritholtz Wealth Management now owns 6,361 shares of the medical equipment provider’s stock worth $2,587,000 after buying an additional 571 shares in the last quarter. UNIVEST FINANCIAL Corp boosted its stake in Intuitive Surgical by 16.1% in the third quarter. UNIVEST FINANCIAL Corp now owns 13,113 shares of the medical equipment provider’s stock valued at $5,332,000 after buying an additional 1,822 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in Intuitive Surgical by 7.6% in the third quarter. Joel Isaacson & Co. LLC now owns 2,853 shares of the medical equipment provider’s stock valued at $1,160,000 after buying an additional 201 shares in the last quarter. Jacobi Capital Management LLC grew its position in Intuitive Surgical by 52.1% in the third quarter. Jacobi Capital Management LLC now owns 2,062 shares of the medical equipment provider’s stock valued at $838,000 after acquiring an additional 706 shares during the last quarter. Finally, First Command Advisory Services Inc. grew its position in Intuitive Surgical by 48.4% in the third quarter. First Command Advisory Services Inc. now owns 552 shares of the medical equipment provider’s stock valued at $224,000 after acquiring an additional 180 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ISRG. Truist Financial lowered their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Raymond James Financial reissued an “outperform” rating and issued a $480.00 target price on shares of Intuitive Surgical in a report on Wednesday, October 21st. BTIG Research restated a “buy” rating and issued a $454.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Intuitive Surgical from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Finally, Barclays reaffirmed an “overweight” rating and set a $500.00 price target (up from $485.00) on shares of Intuitive Surgical in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $493.54.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, VP Fredrik Widman sold 4,047 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $453.21, for a total value of $1,834,140.87. Following the completion of the transaction, the vice president directly owned 1,026 shares in the company, valued at approximately $464,993.46. This trade represents a 79.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary Guthart sold 20,095 shares of Intuitive Surgical stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $451.61, for a total value of $9,075,102.95. Following the sale, the director directly owned 1,204,530 shares in the company, valued at $543,977,793.30. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 39,056 shares of company stock valued at $17,585,864. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $449.53 on Thursday. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock has a market capitalization of $155.83 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 3.10 and a beta of 1.45. The stock has a fifty day moving average of $414.76 and a 200-day moving average of $430.83.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.35. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. Intuitive Surgical’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

About Intuitive Surgical

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.