Covenant Asset Management LLC Buys 81 Shares of Intuitive Surgical, Inc. $ISRG

Covenant Asset Management LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,010 shares of the medical equipment provider’s stock after purchasing an additional 81 shares during the quarter. Intuitive Surgical accounts for about 0.9% of Covenant Asset Management LLC’s portfolio, making the stock its 25th largest position. Covenant Asset Management LLC’s holdings in Intuitive Surgical were worth $5,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its holdings in shares of Intuitive Surgical by 0.8% during the second quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider’s stock worth $1,374,000 after buying an additional 19 shares in the last quarter. Crown Wealth Group LLC grew its position in Intuitive Surgical by 4.8% during the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider’s stock worth $218,000 after acquiring an additional 20 shares during the last quarter. FSM Wealth Advisors LLC increased its holdings in Intuitive Surgical by 3.8% in the 1st quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 20 shares in the last quarter. CFO4Life Group LLC raised its position in Intuitive Surgical by 4.8% in the first quarter. CFO4Life Group LLC now owns 436 shares of the medical equipment provider’s stock valued at $216,000 after purchasing an additional 20 shares during the last quarter. Finally, J. W. Coons Advisors LLC boosted its stake in shares of Intuitive Surgical by 1.4% during the first quarter. J. W. Coons Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock valued at $741,000 after purchasing an additional 20 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on ISRG shares. Piper Sandler reaffirmed an “overweight” rating and issued a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Erste Group Bank restated a “hold” rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Evercore ISI boosted their price objective on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 8th. Finally, BTIG Research increased their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Thirteen research 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’s stock. According to MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $595.95.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $441.12 on Monday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The firm’s fifty day moving average is $469.43 and its 200-day moving average is $501.66. The firm has a market cap of $158.13 billion, a P/E ratio of 61.52, a P/E/G ratio of 4.62 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. Intuitive Surgical’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company’s stock, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy L. Ladd sold 336 shares of the business’s stock in a transaction that occurred 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 approximately $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company’s stock.

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.