MAI Capital Management Sells 528 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Posted by Defense World Staff on Aug 21st, 2023

MAI Capital Management reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,775 shares of the medical equipment provider’s stock after selling 528 shares during the period. MAI Capital Management’s holdings in Intuitive Surgical were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its position in shares of Intuitive Surgical by 1,314.3% in the first quarter. HHM Wealth Advisors LLC now owns 99 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 92 shares during the period. Bogart Wealth LLC increased its holdings in Intuitive Surgical by 721.4% in the 1st quarter. Bogart Wealth LLC now owns 115 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 101 shares during the period. Addison Advisors LLC raised its position in shares of Intuitive Surgical by 1,837.5% in the 1st quarter. Addison Advisors LLC now owns 155 shares of the medical equipment provider’s stock valued at $40,000 after buying an additional 147 shares in the last quarter. Close Asset Management Ltd bought a new stake in shares of Intuitive Surgical during the 1st quarter worth approximately $45,000. Finally, Carmel Capital Partners LLC acquired a new stake in shares of Intuitive Surgical during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price target on Intuitive Surgical from $347.00 to $400.00 in a research note on Wednesday, July 19th. Barclays boosted their target price on Intuitive Surgical from $314.00 to $385.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. StockNews.com assumed coverage on shares of Intuitive Surgical in a research note on Thursday. They issued a “buy” rating on the stock. Robert W. Baird started coverage on shares of Intuitive Surgical in a research report on Tuesday, July 18th. They set an “outperform” rating and a $377.00 price objective for the company. Finally, Sanford C. Bernstein raised their target price on shares of Intuitive Surgical from $350.00 to $365.00 in a research report on Wednesday, May 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $343.10.

View Our Latest Research Report on ISRG

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $285.95 on Monday. Intuitive Surgical, Inc. has a one year low of $180.07 and a one year high of $358.07. The business has a fifty day moving average price of $325.63 and a 200-day moving average price of $289.60. The firm has a market capitalization of $100.47 billion, a price-to-earnings ratio of 71.67, a price-to-earnings-growth ratio of 4.06 and a beta of 1.30.

Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.09. Intuitive Surgical had a net margin of 21.38% and a return on equity of 12.41%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 4.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alan J. Levy sold 2,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $310.00, for a total value of $620,000.00. Following the completion of the transaction, the director now directly owns 25,319 shares of the company’s stock, valued at $7,848,890. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intuitive Surgical news, CEO Gary S. Guthart sold 4,960 shares of Intuitive Surgical stock in a transaction on Monday, July 31st. The shares were sold at an average price of $325.89, for a total transaction of $1,616,414.40. Following the completion of the transaction, the chief executive officer now directly owns 32,320 shares of the company’s stock, valued at $10,532,764.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan J. Levy sold 2,000 shares of Intuitive Surgical stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $310.00, for a total transaction of $620,000.00. Following the transaction, the director now directly owns 25,319 shares of the company’s stock, valued at $7,848,890. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,069 shares of company stock worth $24,452,502. Corporate insiders own 0.90% of the company’s stock.

About Intuitive Surgical

(Free Report)

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 to enable 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.