HBK Sorce Advisory LLC Cuts Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

HBK Sorce Advisory LLC lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,753 shares of the medical equipment provider’s stock after selling 83 shares during the period. HBK Sorce Advisory LLC’s holdings in Intuitive Surgical were worth $1,859,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ISRG. Robert W. Baird decreased their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Truist Financial reduced their price objective on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a 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. Citigroup reaffirmed a “buy” rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Finally, Piper Sandler cut their price target on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $588.95.

Intuitive Surgical Trading Down 0.3%

Intuitive Surgical stock opened at $521.63 on Thursday. Intuitive Surgical, Inc. has a 1-year low of $413.82 and a 1-year high of $616.00. The firm has a market capitalization of $186.96 billion, a PE ratio of 76.49, a price-to-earnings-growth ratio of 5.55 and a beta of 1.67. The firm’s 50 day simple moving average is $530.03 and its 200 day simple moving average is $536.86.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.10. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates 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 business earned $1.50 EPS. Research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $872,406.00. Following the sale, the executive vice president now owns 2,245 shares of the company’s stock, valued at approximately $1,152,089.10. The trade was a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. Company insiders own 0.70% of the company’s stock.

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.