Concert Wealth Management Inc. decreased its stake in shares of Intuitive Surgical Inc. (NASDAQ:ISRG) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,671 shares of the company’s stock after selling 10 shares during the period. Concert Wealth Management Inc.’s holdings in Intuitive Surgical were worth $1,768,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Intuitive Surgical by 59.0% in the first quarter. Bessemer Group Inc. now owns 318 shares of the company’s stock valued at $191,000 after buying an additional 118 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $1,058,000. Aviva PLC increased its stake in shares of Intuitive Surgical by 2.2% in the first quarter. Aviva PLC now owns 18,954 shares of the company’s stock valued at $11,392,000 after buying an additional 404 shares in the last quarter. Credit Agricole S A increased its stake in shares of Intuitive Surgical by 648.1% in the first quarter. Credit Agricole S A now owns 47,606 shares of the company’s stock valued at $28,613,000 after buying an additional 41,242 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $87,448,000. Institutional investors and hedge funds own 92.03% of the company’s stock.
Intuitive Surgical Inc. (NASDAQ:ISRG) traded down 4.05% on Wednesday, reaching $692.51. The company had a trading volume of 833,731 shares. The firm has a market capitalization of $26.66 billion, a P/E ratio of 39.30 and a beta of 0.72. The company’s 50-day moving average price is $703.09 and its 200 day moving average price is $666.36. Intuitive Surgical Inc. has a 1-year low of $483.11 and a 1-year high of $727.25.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $6.19 EPS for the quarter, beating the consensus estimate of $5.13 by $1.06. Intuitive Surgical had a net margin of 26.80% and a return on equity of 15.25%. The company had revenue of $682.90 million for the quarter, compared to analyst estimates of $650.49 million. During the same period in the prior year, the company earned $5.24 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Intuitive Surgical Inc. will post $21.30 EPS for the current year.
A number of research firms have recently issued reports on ISRG. Zacks Investment Research downgraded Intuitive Surgical from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Bank of America Corp. restated a “buy” rating on shares of Intuitive Surgical in a research note on Wednesday, June 22nd. Stifel Nicolaus raised their price target on Intuitive Surgical from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Wedbush raised their price target on Intuitive Surgical from $715.00 to $755.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 20th. Finally, Canaccord Genuity raised their price target on Intuitive Surgical from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. Intuitive Surgical currently has an average rating of “Buy” and a consensus target price of $713.45.
In other news, CFO Marshall Mohr sold 5,000 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $684.09, for a total transaction of $3,420,450.00. Following the sale, the chief financial officer now directly owns 6,725 shares of the company’s stock, valued at approximately $4,600,505.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Curet Myriam sold 4,250 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $684.39, for a total transaction of $2,908,657.50. Following the sale, the senior vice president now directly owns 3,133 shares in the company, valued at $2,144,193.87. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
About Intuitive Surgical
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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