Concurrent Investment Advisors LLC Grows Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Concurrent Investment Advisors LLC increased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,150 shares of the medical equipment provider’s stock after purchasing an additional 1,005 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Intuitive Surgical were worth $6,513,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Atala Financial Inc bought a new position in Intuitive Surgical in the 4th quarter worth $25,000. Hurley Capital LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $28,000. Parvin Asset Management LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $26,000. Global Financial Private Client LLC raised its holdings in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 38 shares during the period. Finally, Elite Financial Inc. bought a new stake in Intuitive Surgical during the first quarter valued at about $26,000. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ISRG. BTIG Research set a $560.00 price target on Intuitive Surgical and gave the company a “buy” rating in a report on Monday, April 14th. Barclays decreased their price target on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Piper Sandler decreased their price target on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Truist Financial decreased their price target on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $588.95.

Intuitive Surgical Trading Up 0.6%

Shares of ISRG stock opened at $543.74 on Friday. The business’s fifty day simple moving average is $537.11 and its 200-day simple moving average is $536.83. The company has a market cap of $194.89 billion, a PE ratio of 79.73, a PEG ratio of 5.78 and a beta of 1.64. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. During the same period in the prior year, the firm posted $1.50 earnings per share. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the sale, the director directly owned 6,371 shares of the company’s stock, valued at $3,312,920. The trade was a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock valued at $2,611,577 over the last three months. 0.70% of the stock is owned by corporate insiders.

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.