Intuitive Surgical, Inc. $ISRG Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 82.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,975 shares of the medical equipment provider’s stock after selling 9,035 shares during the period. Covenant Asset Management LLC’s holdings in Intuitive Surgical were worth $883,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vertex Planning Partners LLC raised its position in Intuitive Surgical by 2.3% in the second quarter. Vertex Planning Partners LLC now owns 917 shares of the medical equipment provider’s stock valued at $498,000 after purchasing an additional 21 shares during the period. City Holding Co. raised its holdings in shares of Intuitive Surgical by 16.1% during the 2nd quarter. City Holding Co. now owns 159 shares of the medical equipment provider’s stock valued at $86,000 after buying an additional 22 shares during the period. True Vision MN LLC lifted its position in Intuitive Surgical by 3.0% during the 2nd quarter. True Vision MN LLC now owns 766 shares of the medical equipment provider’s stock worth $416,000 after acquiring an additional 22 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in Intuitive Surgical by 3.1% in the 2nd quarter. Evermay Wealth Management LLC now owns 731 shares of the medical equipment provider’s stock worth $397,000 after acquiring an additional 22 shares during the period. Finally, Avion Wealth boosted its holdings in Intuitive Surgical by 2.3% in the 2nd quarter. Avion Wealth now owns 984 shares of the medical equipment provider’s stock worth $534,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

ISRG has been the topic of a number of analyst reports. Raymond James Financial set a $603.00 price objective on shares of Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group boosted their price objective on shares of Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Piper Sandler upped their price objective on shares of Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada lifted their target price on Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Rothschild & Co Redburn boosted their price target on Intuitive Surgical from $610.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $622.17.

Intuitive Surgical Trading Down 0.7%

Shares of NASDAQ ISRG opened at $523.69 on Thursday. The company has a market capitalization of $187.73 billion, a price-to-earnings ratio of 69.27, a price-to-earnings-growth ratio of 4.28 and a beta of 1.67. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The business has a 50 day simple moving average of $563.63 and a 200-day simple moving average of $511.76.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Henry L. Charlton sold 13,731 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the completion of the sale, the executive vice president owned 3,056 shares of the company’s stock, valued at $1,772,480. This represents a 81.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 7,562 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $548.43, for a total transaction of $4,147,227.66. Following the sale, the executive vice president owned 353 shares in the company, valued at approximately $193,595.79. This trade represents a 95.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 114,007 shares of company stock worth $63,533,844. Company insiders own 0.70% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.