Precedent Wealth Partners LLC Takes Position in Intuitive Surgical, Inc. $ISRG

Precedent Wealth Partners LLC purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 386 shares of the medical equipment provider’s stock, valued at approximately $210,000.

A number of other large investors have also made changes to their positions in ISRG. Nuveen LLC acquired a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $1,715,899,000. Goldman Sachs Group Inc. raised its holdings in shares of Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock valued at $1,396,496,000 after acquiring an additional 584,375 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Intuitive Surgical by 20.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock valued at $1,680,922,000 after acquiring an additional 566,979 shares during the period. Wellington Management Group LLP increased its stake in Intuitive Surgical by 15.0% in the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock valued at $1,732,975,000 after buying an additional 457,080 shares during the period. Finally, Vanguard Group Inc. increased its stake in Intuitive Surgical by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock valued at $16,178,258,000 after buying an additional 453,335 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ISRG shares. Piper Sandler reiterated 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. Truist Financial upped their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Evercore ISI upped their price objective on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an “in-line” rating in a research note on Tuesday, July 8th. Finally, UBS Group upped their price objective on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Fourteen 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $594.19.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,224 shares of company stock worth $21,716,492 in the last ninety days. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $452.35 on Friday. The firm has a market cap of $162.16 billion, a price-to-earnings ratio of 63.09, a P/E/G ratio of 4.74 and a beta of 1.61. The firm has a fifty day moving average price of $463.55 and a two-hundred day moving average price of $500.06. 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 posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

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.