Third View Private Wealth LLC Buys New Position in Intuitive Surgical, Inc. $ISRG

Third View Private Wealth LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, Holdings Channel.com reports. The fund bought 7,223 shares of the medical equipment provider’s stock, valued at approximately $4,091,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tandem Capital Management Corp ADV raised its stake in Intuitive Surgical by 23.3% in the fourth quarter. Tandem Capital Management Corp ADV now owns 2,380 shares of the medical equipment provider’s stock valued at $1,348,000 after purchasing an additional 450 shares in the last quarter. Legacy Bridge LLC raised its stake in Intuitive Surgical by 1.9% in the fourth quarter. Legacy Bridge LLC now owns 4,112 shares of the medical equipment provider’s stock valued at $2,329,000 after purchasing an additional 78 shares in the last quarter. Asset Advisors Investment Management LLC purchased a new stake in Intuitive Surgical in the fourth quarter valued at approximately $420,000. HBW Advisory Services LLC purchased a new stake in Intuitive Surgical in the fourth quarter valued at approximately $386,000. Finally, Whitener Capital Management Inc. raised its stake in Intuitive Surgical by 0.6% in the fourth quarter. Whitener Capital Management Inc. now owns 6,349 shares of the medical equipment provider’s stock valued at $3,596,000 after purchasing an additional 41 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 1.9%

Shares of NASDAQ ISRG opened at $458.96 on Tuesday. The stock has a market cap of $162.99 billion, a price-to-earnings ratio of 58.17, a P/E/G ratio of 3.52 and a beta of 1.68. Intuitive Surgical, Inc. has a 1-year low of $427.84 and a 1-year high of $603.88. The stock’s 50-day moving average is $480.39 and its 200 day moving average is $514.80.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period last year, the firm posted $2.21 EPS. Intuitive Surgical’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Myriam Curet sold 421 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $208,378.16. Following the transaction, the executive vice president directly owned 409 shares in the company, valued at $202,438.64. This trade represents a 50.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $65,829.68. Following the transaction, the vice president owned 660 shares in the company, valued at approximately $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,943 shares of company stock worth $17,279,568 over the last quarter. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ISRG shares. Robert W. Baird reduced their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. UBS Group decreased their price objective on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Piper Sandler reissued an “overweight” rating and set a $620.00 price objective (up from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Barclays set a $712.00 price objective on Intuitive Surgical and gave the company an “overweight” rating in a report on Monday, January 26th. Finally, Citigroup raised Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective on the stock in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $604.73.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.