Sunbelt Securities Inc. Sells 1,134 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sunbelt Securities Inc. decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 42.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,523 shares of the medical equipment provider’s stock after selling 1,134 shares during the quarter. Sunbelt Securities Inc.’s holdings in Intuitive Surgical were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creekmur Asset Management LLC grew its holdings in Intuitive Surgical by 200.0% during the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Intuitive Surgical during the second quarter worth $26,000. Able Wealth Management LLC bought a new stake in Intuitive Surgical during the fourth quarter worth $28,000. Delos Wealth Advisors LLC boosted its position in Intuitive Surgical by 380.0% in the first quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Intuitive Surgical during the first quarter valued at about $30,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG stock opened at $484.76 on Wednesday. The firm has a 50 day moving average price of $474.22 and a 200-day moving average price of $430.19. Intuitive Surgical, Inc. has a 52-week low of $254.85 and a 52-week high of $496.48. The firm has a market capitalization of $171.94 billion, a price-to-earnings ratio of 87.50, a PEG ratio of 5.39 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business earned $1.18 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mark Brosius sold 2,115 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $491.91, for a total transaction of $1,040,389.65. Following the completion of the transaction, the insider now directly owns 295 shares in the company, valued at $145,113.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Amal M. Johnson sold 2,943 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the completion of the sale, the director now owns 12,275 shares of the company’s stock, valued at approximately $5,441,507.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Brosius sold 2,115 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $491.91, for a total transaction of $1,040,389.65. Following the sale, the insider now directly owns 295 shares of the company’s stock, valued at approximately $145,113.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,120 shares of company stock worth $25,528,753. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays boosted their target price on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Piper Sandler lifted their target price on shares of Intuitive Surgical from $490.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. BTIG Research lifted their target price on shares of Intuitive Surgical from $469.00 to $494.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their target price on shares of Intuitive Surgical from $430.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Evercore ISI lifted their target price on shares of Intuitive Surgical from $410.00 to $475.00 and gave the stock an “in-line” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $449.70.

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.