Belpointe Asset Management LLC Lowers Holdings in Intuitive Surgical, Inc. $ISRG

Belpointe Asset Management LLC cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.6% during the first quarter, Holdings Channel reports. The firm owned 2,424 shares of the medical equipment provider’s stock after selling 143 shares during the quarter. Belpointe Asset Management LLC’s holdings in Intuitive Surgical were worth $1,201,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its holdings in Intuitive Surgical by 31.9% in the 1st quarter. Intech Investment Management LLC now owns 51,241 shares of the medical equipment provider’s stock worth $25,378,000 after purchasing an additional 12,382 shares in the last quarter. Focus Partners Wealth increased its stake in Intuitive Surgical by 49.5% in the 1st quarter. Focus Partners Wealth now owns 79,306 shares of the medical equipment provider’s stock worth $39,278,000 after acquiring an additional 26,270 shares during the last quarter. Integrity Alliance LLC. bought a new stake in Intuitive Surgical in the 1st quarter worth approximately $542,000. Glenview Trust co increased its stake in Intuitive Surgical by 0.3% in the 1st quarter. Glenview Trust co now owns 111,742 shares of the medical equipment provider’s stock worth $55,342,000 after acquiring an additional 366 shares during the last quarter. Finally, Plato Investment Management Ltd increased its stake in Intuitive Surgical by 31.7% in the 1st quarter. Plato Investment Management Ltd now owns 10,330 shares of the medical equipment provider’s stock worth $5,172,000 after acquiring an additional 2,486 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ISRG. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Citigroup reaffirmed a “buy” rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Truist Financial lifted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Evercore ISI lifted their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average price target of $595.95.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $455.85 on Friday. The company has a market cap of $163.41 billion, a P/E ratio of 63.58, a P/E/G ratio of 4.72 and a beta of 1.61. The business’s 50 day moving average price is $487.55 and its 200-day moving average price is $509.57. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company’s stock, valued at $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares in the company, valued at $504,898.14. This trade represents a 23.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,224 shares of company stock valued at $21,716,492 in the last quarter. 0.70% of the stock is owned by insiders.

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.