Strait & Sound Wealth Management LLC Trims Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Strait & Sound Wealth Management LLC lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 873 shares of the medical equipment provider’s stock after selling 83 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Intuitive Surgical were worth $429,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in Intuitive Surgical during the 2nd quarter valued at about $26,000. Godsey & Gibb Inc. boosted its stake in shares of Intuitive Surgical by 140.0% during the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 35 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in Intuitive Surgical by 415.4% during the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 54 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Intuitive Surgical in the third quarter worth approximately $33,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Intuitive Surgical in the second quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ISRG. Raymond James lifted their price target on Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $522.00 to $650.00 in a research note on Monday, December 2nd. Oppenheimer reissued a “market perform” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. Citigroup lifted their price objective on shares of Intuitive Surgical from $512.00 to $560.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group set a $604.00 target price on shares of Intuitive Surgical in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $541.33.

Intuitive Surgical Trading Down 2.1 %

Shares of NASDAQ:ISRG opened at $538.86 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $309.80 and a twelve month high of $556.23. The company’s 50 day moving average is $517.16 and its 200 day moving average is $475.65. The company has a market cap of $191.93 billion, a PE ratio of 86.63, a price-to-earnings-growth ratio of 5.41 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data 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. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. Equities research analysts predict that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, CFO Jamie Samath sold 188 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $539.00, for a total value of $101,332.00. Following the completion of the transaction, the chief financial officer now owns 8,757 shares in the company, valued at approximately $4,720,023. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy L. Ladd sold 450 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $490.28, for a total value of $220,626.00. Following the sale, the director now owns 821 shares in the company, valued at $402,519.88. This trade represents a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,485 shares of company stock worth $26,128,102 over the last quarter. 0.90% of the stock is currently owned by insiders.

About Intuitive Surgical

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.