Sylvest Advisors LLC Lowers Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sylvest Advisors LLC reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 41.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,729 shares of the medical equipment provider’s stock after selling 1,246 shares during the period. Intuitive Surgical accounts for about 0.5% of Sylvest Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Sylvest Advisors LLC’s holdings in Intuitive Surgical were worth $856,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of Intuitive Surgical by 151.1% in the first quarter. Golden State Wealth Management LLC now owns 3,879 shares of the medical equipment provider’s stock worth $1,922,000 after buying an additional 2,334 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Intuitive Surgical by 24.9% in the first quarter. Bessemer Group Inc. now owns 416,522 shares of the medical equipment provider’s stock worth $206,292,000 after buying an additional 83,143 shares in the last quarter. Spire Wealth Management lifted its position in shares of Intuitive Surgical by 10.1% in the first quarter. Spire Wealth Management now owns 23,909 shares of the medical equipment provider’s stock worth $11,841,000 after buying an additional 2,187 shares in the last quarter. Golden State Equity Partners lifted its position in shares of Intuitive Surgical by 14.6% in the first quarter. Golden State Equity Partners now owns 1,209 shares of the medical equipment provider’s stock worth $599,000 after buying an additional 154 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Intuitive Surgical in the first quarter worth about $1,779,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $523.08 on Wednesday. The stock has a 50-day simple moving average of $529.22 and a two-hundred day simple moving average of $536.97. The firm has a market capitalization of $187.48 billion, a P/E ratio of 76.70, a PEG ratio of 5.46 and a beta of 1.67. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00.

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

Insider Activity at Intuitive Surgical

In other news, EVP Gary Loeb sold 1,700 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $513.18, for a total value of $872,406.00. Following the transaction, the executive vice president now owns 2,245 shares in the company, valued at $1,152,089.10. This trade represents a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the transaction, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,998 shares of company stock worth $2,611,577 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ISRG shares. Piper Sandler reduced their price objective on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 price target on Intuitive Surgical and gave the company a “buy” rating in a report on Monday, April 14th. Citigroup reiterated a “buy” rating and issued a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Robert W. Baird lowered their target price on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.