Intuitive Surgical, Inc. (NASDAQ:ISRG) Position Reduced by Elite Wealth Management Inc.

Elite Wealth Management Inc. lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,935 shares of the medical equipment provider’s stock after selling 404 shares during the quarter. Intuitive Surgical accounts for approximately 1.6% of Elite Wealth Management Inc.’s holdings, making the stock its 7th biggest holding. Elite Wealth Management Inc.’s holdings in Intuitive Surgical were worth $11,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in Intuitive Surgical during the 2nd quarter valued at $26,000. Godsey & Gibb Inc. increased its position in Intuitive Surgical by 140.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 35 shares in the last quarter. LRI Investments LLC purchased a new stake in Intuitive Surgical during the 1st quarter worth about $30,000. LGT Financial Advisors LLC raised its stake in Intuitive Surgical by 415.4% in the 2nd quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 54 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Intuitive Surgical in the 3rd quarter valued at about $33,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ISRG has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Intuitive Surgical from $475.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Evercore ISI reaffirmed a “cautious” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BTIG Research lifted their price target on Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup increased their price objective on shares of Intuitive Surgical from $512.00 to $560.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $526.06.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $538.55 on Thursday. Intuitive Surgical, Inc. has a 1-year low of $304.50 and a 1-year high of $552.00. The company has a market capitalization of $191.82 billion, a price-to-earnings ratio of 86.58, a PEG ratio of 5.28 and a beta of 1.39. The business has a 50-day moving average of $507.94 and a 200-day moving average of $466.79.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Research analysts expect that Intuitive Surgical, Inc. will post 5.45 EPS for the current fiscal year.

Insider Activity

In other Intuitive Surgical news, CFO Jamie Samath sold 108 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $542.06, for a total value of $58,542.48. Following the transaction, the chief financial officer now directly owns 8,757 shares of the company’s stock, valued at $4,746,819.42. This represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Gary Loeb sold 300 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $475.00, for a total value of $142,500.00. Following the transaction, the general counsel now owns 1,595 shares of the company’s stock, valued at approximately $757,625. This trade represents a 15.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,459 shares of company stock worth $26,080,251. 0.90% of the stock is currently owned by company insiders.

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.