Merriman Wealth Management LLC Cuts Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Merriman Wealth Management LLC lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 988 shares of the medical equipment provider’s stock after selling 128 shares during the period. Merriman Wealth Management LLC’s holdings in Intuitive Surgical were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Alaethes Wealth LLC increased its holdings in shares of Intuitive Surgical by 0.8% in the 2nd quarter. Alaethes Wealth LLC now owns 5,449 shares of the medical equipment provider’s stock worth $2,424,000 after purchasing an additional 41 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Intuitive Surgical by 5.4% during the second quarter. Legacy Financial Advisors Inc. now owns 1,976 shares of the medical equipment provider’s stock valued at $879,000 after buying an additional 101 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in Intuitive Surgical by 3.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,714 shares of the medical equipment provider’s stock worth $2,097,000 after buying an additional 152 shares in the last quarter. Garden State Investment Advisory Services LLC raised its position in Intuitive Surgical by 7.9% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 956 shares of the medical equipment provider’s stock worth $425,000 after buying an additional 70 shares during the last quarter. Finally, Sei Investments Co. raised its position in Intuitive Surgical by 1.4% in the 2nd quarter. Sei Investments Co. now owns 527,686 shares of the medical equipment provider’s stock worth $234,734,000 after buying an additional 7,080 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $486.20 on Friday. Intuitive Surgical, Inc. has a 1 year low of $254.85 and a 1 year high of $496.18. The firm has a fifty day moving average price of $468.01 and a 200-day moving average price of $425.12. The stock has a market cap of $172.46 billion, a PE ratio of 87.76, a price-to-earnings-growth ratio of 5.41 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts expect that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Craig H. Barratt sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total value of $641,382.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Myriam Curet sold 2,818 shares of Intuitive Surgical stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total value of $1,291,010.34. Following the sale, the executive vice president now directly owns 298 shares of the company’s stock, valued at $136,522.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig H. Barratt sold 1,400 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total value of $641,382.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,120 shares of company stock valued at $25,528,753. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Redburn Atlantic upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $510.00 in a research note on Friday, August 2nd. Robert W. Baird lifted their target price on shares of Intuitive Surgical from $487.00 to $503.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. The Goldman Sachs Group assumed coverage on Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 price target on the stock. Truist Financial raised their price target on Intuitive Surgical from $450.00 to $515.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus upped their price objective on Intuitive Surgical from $430.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $446.45.

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.