Elk River Wealth Management LLC Makes New Investment in Intuitive Surgical, Inc. $ISRG

Elk River Wealth Management LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 9,752 shares of the medical equipment provider’s stock, valued at approximately $4,496,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Intuitive Surgical by 1.0% in the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock valued at $8,892,753,000 after purchasing an additional 162,264 shares in the last quarter. Capital World Investors grew its stake in shares of Intuitive Surgical by 1.7% during the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after purchasing an additional 127,526 shares in the last quarter. Norges Bank purchased a new position in Intuitive Surgical in the fourth quarter valued at $2,856,987,000. Invesco Ltd. increased its holdings in Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after buying an additional 611,268 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Intuitive Surgical by 1.1% in the third quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock valued at $1,739,475,000 after buying an additional 40,702 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $402.95 on Tuesday. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The company has a market capitalization of $142.71 billion, a P/E ratio of 48.84, a PEG ratio of 3.31 and a beta of 1.46. The company’s fifty day moving average is $437.39 and its two-hundred day moving average is $488.76.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 earnings per share. As a group, equities analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 over the last 90 days. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ISRG shares. Jefferies Financial Group decreased their price target on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Raymond James Financial cut their target price on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. BTIG Research restated a “buy” rating and set a $574.00 target price on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Citigroup raised Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target for the company in a report on Wednesday, March 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $573.42.

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.