Exchange Traded Concepts LLC Purchases 2,225 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Exchange Traded Concepts LLC lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 42,891 shares of the medical equipment provider’s stock after buying an additional 2,225 shares during the period. Exchange Traded Concepts LLC’s holdings in Intuitive Surgical were worth $21,243,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Atala Financial Inc bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Parvin Asset Management LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at $26,000. Global Financial Private Client LLC increased its position in shares of Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 38 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at $28,000. Finally, Hurley Capital LLC bought a new position in Intuitive Surgical during the 4th quarter worth about $28,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $512.18 on Friday. Intuitive Surgical, Inc. has a 52-week low of $413.82 and a 52-week high of $616.00. The company has a market capitalization of $183.57 billion, a P/E ratio of 79.90, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The company has a 50-day simple moving average of $526.57 and a 200 day simple moving average of $538.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business posted $1.50 EPS. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Gary Loeb sold 1,700 shares of Intuitive Surgical stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $513.18, for a total value of $872,406.00. Following the completion of the sale, the executive vice president now directly owns 2,245 shares in the company, valued at approximately $1,152,089.10. The trade was a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the sale, the executive vice president now owns 5,224 shares of the company’s stock, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock worth $2,611,577 over the last three months. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a “hold” rating to a “sell” rating and lowered their target price for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Citigroup reiterated a “buy” rating and set a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Piper Sandler lowered their target price on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $588.95.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.