IMA Advisory Services Inc. Lowers Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

IMA Advisory Services Inc. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,198 shares of the medical equipment provider’s stock after selling 406 shares during the period. IMA Advisory Services Inc.’s holdings in Intuitive Surgical were worth $2,574,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ISRG. Geode Capital Management LLC grew its stake in shares of Intuitive Surgical by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock worth $4,039,200,000 after purchasing an additional 243,802 shares during the last quarter. Norges Bank bought a new stake in Intuitive Surgical during the 4th quarter valued at approximately $2,401,493,000. Invesco Ltd. boosted its position in Intuitive Surgical by 7.7% during the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider’s stock valued at $2,165,184,000 after acquiring an additional 295,025 shares in the last quarter. Northern Trust Corp boosted its position in Intuitive Surgical by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider’s stock valued at $1,889,126,000 after acquiring an additional 494,496 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in 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. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the company’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 transaction, the director directly owned 6,371 shares in the company, valued at approximately $3,312,920. This represents a 27.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. 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. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 8th. Truist Financial decreased their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Citigroup restated a “buy” rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Finally, Robert W. Baird reduced their price objective on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $593.09.

Intuitive Surgical Stock Down 1.0%

Shares of ISRG opened at $511.00 on Wednesday. The company has a market cap of $183.15 billion, a price-to-earnings ratio of 74.93, a price-to-earnings-growth ratio of 5.47 and a beta of 1.64. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The company has a 50 day moving average of $535.90 and a two-hundred day moving average of $536.29.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.78 earnings per share. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

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.