Intuitive Surgical, Inc. $ISRG Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 33,466 shares of the medical equipment provider’s stock after selling 1,236 shares during the quarter. State of Alaska Department of Revenue’s holdings in Intuitive Surgical were worth $13,608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Formuepleje A S increased its holdings in shares of Intuitive Surgical by 41.8% in the 3rd quarter. Formuepleje A S now owns 4,757 shares of the medical equipment provider’s stock worth $1,934,000 after buying an additional 1,403 shares during the last quarter. WealthPlan Investment Management LLC lifted its holdings in Intuitive Surgical by 4.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 5,122 shares of the medical equipment provider’s stock valued at $2,083,000 after buying an additional 211 shares in the last quarter. Purus Wealth Management LLC boosted its holdings in shares of Intuitive Surgical by 0.8% in the third quarter. Purus Wealth Management LLC now owns 22,067 shares of the medical equipment provider’s stock valued at $8,973,000 after purchasing an additional 167 shares during the period. Howard Financial Services LTD. grew its position in shares of Intuitive Surgical by 23.9% during the 3rd quarter. Howard Financial Services LTD. now owns 1,120 shares of the medical equipment provider’s stock worth $455,000 after buying an additional 216 shares in the last quarter. Finally, William Allan Corp purchased a new position in Intuitive Surgical during the 3rd quarter valued at about $292,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG traded up $5.95 during trading on Thursday, reaching $426.19. The stock had a trading volume of 874,183 shares, compared to its average volume of 2,402,024. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88. The stock has a market cap of $150.56 billion, a PE ratio of 48.81, a PEG ratio of 3.18 and a beta of 1.46. The business has a fifty day moving average price of $389.39 and a 200-day moving average price of $409.80.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 earnings per share. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HSBC lowered Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target for the company. in a research report on Thursday, July 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Intuitive Surgical in a research note on Monday, July 20th. Truist Financial decreased their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Sunday, September 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $498.83.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Mark Brosius sold 77 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the sale, the executive vice president owned 881 shares of the company’s stock, valued at approximately $330,877.17. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the executive vice president owned 5,320 shares in the company, valued at $2,016,280. This represents a 6.99% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 12,370 shares of company stock worth $4,891,989. Corporate insiders own 0.60% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company’s products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.

Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.