SteelPeak Wealth LLC Has $25.77 Million Position in Intuitive Surgical, Inc. $ISRG

SteelPeak Wealth LLC grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 451.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,906 shares of the medical equipment provider’s stock after acquiring an additional 45,777 shares during the quarter. Intuitive Surgical accounts for 0.8% of SteelPeak Wealth LLC’s holdings, making the stock its 27th biggest position. SteelPeak Wealth LLC’s holdings in Intuitive Surgical were worth $25,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Draper Asset Management LLC lifted its stake in Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after buying an additional 1,485 shares in the last quarter. Deutsche Bank AG increased its position in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after acquiring an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after acquiring an additional 16,119 shares in the last quarter. Procyon Advisors LLC raised its holdings in shares of Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after acquiring an additional 4,254 shares during the period. Finally, Robinhood Asset Management LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $6,478,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ISRG has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $580.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Evercore set a $430.00 price target on Intuitive Surgical in a report on Monday, July 6th. HSBC reduced their price objective on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $562.62.

Insider Buying and Selling

In related news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. 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 quarter, insiders have sold 7,169 shares of company stock worth $3,059,135. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical News Roundup

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

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

Intuitive Surgical Trading Up 3.4%

Intuitive Surgical stock opened at $402.33 on Friday. The company has a market cap of $142.49 billion, a P/E ratio of 48.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $378.50 and a 1-year high of $603.88. The company has a fifty day simple moving average of $417.37 and a 200 day simple moving average of $468.74.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the business earned $1.81 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

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.