Spectrum Wealth Counsel LLC Reduces Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Spectrum Wealth Counsel LLC lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 654 shares of the medical equipment provider’s stock after selling 166 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Intuitive Surgical were worth $291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Intuitive Surgical in the fourth quarter worth about $1,313,238,000. Capital Research Global Investors purchased a new position in Intuitive Surgical in the 1st quarter valued at approximately $374,390,000. Coatue Management LLC grew its stake in Intuitive Surgical by 65.7% in the 4th quarter. Coatue Management LLC now owns 1,301,595 shares of the medical equipment provider’s stock valued at $439,106,000 after buying an additional 516,054 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Intuitive Surgical by 1.6% during the first quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock worth $12,319,358,000 after acquiring an additional 493,126 shares in the last quarter. Finally, Edgewood Management LLC boosted its holdings in shares of Intuitive Surgical by 7.9% in the fourth quarter. Edgewood Management LLC now owns 5,131,066 shares of the medical equipment provider’s stock worth $1,731,016,000 after acquiring an additional 374,667 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Robert Desantis sold 376 shares of Intuitive Surgical stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $446.60, for a total value of $167,921.60. Following the transaction, the executive vice president now owns 5,506 shares in the company, valued at $2,458,979.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Robert Desantis sold 376 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $446.60, for a total value of $167,921.60. Following the transaction, the executive vice president now owns 5,506 shares in the company, valued at $2,458,979.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 2,818 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the sale, the executive vice president now owns 298 shares of the company’s stock, valued at $136,522.74. The disclosure for this sale can be found here. Insiders sold a total of 50,555 shares of company stock worth $24,267,737 over the last three months. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ISRG. Truist Financial boosted their price objective on Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Robert W. Baird increased their price target on shares of Intuitive Surgical from $487.00 to $503.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Morgan Stanley boosted their price objective on shares of Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Evercore ISI lowered their target price on shares of Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating on the stock in a research note on Friday, July 19th. Finally, BTIG Research boosted their price target on shares of Intuitive Surgical from $469.00 to $494.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus price target of $446.45.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $489.86 on Friday. The company has a market capitalization of $173.75 billion, a price-to-earnings ratio of 88.42, a PEG ratio of 5.41 and a beta of 1.39. The business has a 50 day moving average of $463.74 and a 200 day moving average of $421.80. Intuitive Surgical, Inc. has a 1-year low of $254.85 and a 1-year high of $496.18.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the business posted $1.18 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Intuitive Surgical Company 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.