Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners raised its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 15.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,456 shares of the medical equipment provider’s stock after purchasing an additional 196 shares during the period. Balboa Wealth Partners’ holdings in Intuitive Surgical were worth $721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ISRG. Norges Bank acquired a new stake in shares of Intuitive Surgical during the 4th quarter valued at approximately $2,401,493,000. GAMMA Investing LLC raised its position in shares of Intuitive Surgical by 54,010.7% during the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider’s stock valued at $14,999,630,000 after acquiring an additional 3,022,979 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Intuitive Surgical by 89,098.8% during the 4th quarter. Proficio Capital Partners LLC now owns 949,967 shares of the medical equipment provider’s stock valued at $495,845,000 after acquiring an additional 948,902 shares in the last quarter. Capital Research Global Investors raised its position in shares of Intuitive Surgical by 25.5% during the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider’s stock valued at $1,764,904,000 after acquiring an additional 687,906 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Intuitive Surgical during the 4th quarter valued at approximately $313,769,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 1.1%

Shares of NASDAQ ISRG opened at $515.09 on Tuesday. Intuitive Surgical, Inc. has a 1-year low of $413.82 and a 1-year high of $616.00. The company has a market cap of $184.62 billion, a PE ratio of 75.53, a P/E/G ratio of 5.40 and a beta of 1.67. The company has a 50-day moving average of $528.53 and a two-hundred day moving average of $537.06.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. During the same period in the previous year, the firm posted $1.50 earnings per share. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity

In other news, SVP Mark Brosius sold 216 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president now owns 907 shares of the company’s stock, valued at $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the sale, the executive vice president now directly owns 5,224 shares in the company, valued at $2,695,113.84. This trade represents 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 quarter. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ISRG shares. Royal Bank Of Canada dropped their target price on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. BTIG Research set a $560.00 target price on Intuitive Surgical and gave the stock a “buy” rating in a research report on Monday, April 14th. Piper Sandler dropped their target price on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a “hold” rating to a “sell” rating and lowered their price target for the company from $515.00 to $440.00 in a report on Monday, June 9th. 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. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average price target of $588.95.

About Intuitive Surgical

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.