Moran Wealth Management LLC Sells 59 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Moran Wealth Management LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,719 shares of the medical equipment provider’s stock after selling 59 shares during the quarter. Moran Wealth Management LLC’s holdings in Intuitive Surgical were worth $851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atala Financial Inc bought a new position in shares of Intuitive Surgical during the fourth quarter valued at about $25,000. Hurley Capital LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth about $28,000. Parvin Asset Management LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth about $26,000. Global Financial Private Client LLC grew its stake in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth about $30,000. 83.64% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president now directly owns 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary Loeb sold 1,700 shares of Intuitive Surgical stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the transaction, the executive vice president now owns 2,245 shares of the company’s stock, valued at $1,152,089.10. The trade was a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,998 shares of company stock worth $2,611,577. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ISRG. BTIG Research set a $560.00 target price on Intuitive Surgical and gave the stock a “buy” rating in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a “hold” rating to a “sell” rating and cut their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Truist Financial cut their target price on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut their target price on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $588.95.

Intuitive Surgical Stock Performance

ISRG stock opened at $534.19 on Friday. The firm has a 50 day moving average price of $531.06 and a 200-day moving average price of $536.83. Intuitive Surgical, Inc. has a 52-week low of $413.82 and a 52-week high of $616.00. The firm has a market capitalization of $191.46 billion, a price-to-earnings ratio of 78.33, a PEG ratio of 5.53 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the business earned $1.50 earnings per share. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

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.