Moran Wealth Management LLC Acquires 1,097 Shares of Intuitive Surgical, Inc. $ISRG

Moran Wealth Management LLC grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 44.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,573 shares of the medical equipment provider’s stock after buying an additional 1,097 shares during the period. Moran Wealth Management LLC’s holdings in Intuitive Surgical were worth $1,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CX Institutional lifted its holdings in Intuitive Surgical by 11.9% during the 3rd quarter. CX Institutional now owns 2,160 shares of the medical equipment provider’s stock valued at $966,000 after purchasing an additional 229 shares during the last quarter. WMG Financial Advisors LLC increased its holdings in shares of Intuitive Surgical by 18.1% in the third quarter. WMG Financial Advisors LLC now owns 483 shares of the medical equipment provider’s stock valued at $216,000 after purchasing an additional 74 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Intuitive Surgical in the third quarter valued at about $8,168,000. RPG Investment Advisory LLC lifted its stake in shares of Intuitive Surgical by 2.3% during the 3rd quarter. RPG Investment Advisory LLC now owns 33,807 shares of the medical equipment provider’s stock worth $15,120,000 after buying an additional 752 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Intuitive Surgical by 92.2% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 321 shares of the medical equipment provider’s stock worth $144,000 after buying an additional 154 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ISRG shares. Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. Raymond James Financial set a $603.00 price target on Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Mizuho set a $575.00 price objective on Intuitive Surgical in a research report on Wednesday, October 22nd. Finally, HSBC lifted their target price on Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average price target of $622.17.

Intuitive Surgical Stock Performance

ISRG opened at $586.24 on Friday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The firm has a market cap of $210.16 billion, a P/E ratio of 77.55, a price-to-earnings-growth ratio of 4.76 and a beta of 1.67. The business’s fifty day moving average is $565.95 and its 200-day moving average is $511.53.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.Intuitive Surgical’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, insider Gary S. Guthart sold 22,806 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $570.89, for a total transaction of $13,019,717.34. Following the sale, the insider owned 2,694 shares in the company, valued at approximately $1,537,977.66. This trade represents a 89.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 464 shares of Intuitive Surgical stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $548.49, for a total transaction of $254,499.36. Following the completion of the transaction, the senior vice president directly owned 131 shares in the company, valued at $71,852.19. This trade represents a 77.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,007 shares of company stock worth $63,533,844 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical 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.