Steel Grove Capital Advisors LLC Increases Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Steel Grove Capital Advisors LLC increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 80.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,009 shares of the medical equipment provider’s stock after purchasing an additional 450 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Intuitive Surgical were worth $449,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC grew its holdings in shares of Intuitive Surgical by 200.0% in the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Ridgewood Investments LLC bought a new position in Intuitive Surgical in the 2nd quarter worth about $26,000. Able Wealth Management LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. Delos Wealth Advisors LLC raised its stake in shares of Intuitive Surgical by 380.0% during the first quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 57 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Intuitive Surgical in the first quarter valued at approximately $30,000. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ISRG shares. Robert W. Baird lifted their target price on Intuitive Surgical from $487.00 to $503.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Morgan Stanley lifted their price objective on Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. The Goldman Sachs Group began coverage on shares of Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Intuitive Surgical from $475.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Piper Sandler increased their price objective on shares of Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $446.45.

Intuitive Surgical Trading Up 0.6 %

NASDAQ:ISRG opened at $489.07 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $254.85 and a twelve month high of $496.18. The company has a market cap of $173.47 billion, a PE ratio of 88.28, a P/E/G ratio of 5.41 and a beta of 1.39. The company’s 50 day moving average is $469.05 and its two-hundred day moving average is $426.06.

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, beating 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 for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that Intuitive Surgical, Inc. will post 5.22 EPS for the current fiscal year.

Insider Activity

In related 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 sale was disclosed in a document filed with the SEC, which is available at this link. In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the sale, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig H. Barratt sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was 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. Over the last three months, insiders have sold 53,120 shares of company stock valued at $25,528,753. Company insiders own 0.90% of the company’s stock.

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.