PAX Financial Group LLC Trims Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

by · The Cerbat Gem

PAX Financial Group LLC trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 79.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 568 shares of the medical equipment provider’s stock after selling 2,131 shares during the quarter. PAX Financial Group LLC’s holdings in Intuitive Surgical were worth $281,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock worth $16,813,478,000 after purchasing an additional 360,591 shares during the last quarter. Geode Capital Management LLC raised its position in Intuitive Surgical by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock valued at $4,039,200,000 after acquiring an additional 243,802 shares in the last quarter. Norges Bank purchased a new position in Intuitive Surgical during the fourth quarter valued at approximately $2,401,493,000. Invesco Ltd. raised its position in Intuitive Surgical by 7.7% during the fourth quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider’s stock valued at $2,165,184,000 after acquiring an additional 295,025 shares in the last quarter. Finally, Northern Trust Corp raised its position in Intuitive Surgical by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider’s stock valued at $1,889,126,000 after acquiring an additional 494,496 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ISRG. Piper Sandler reduced their price target on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Barclays reduced their price target on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a “hold” rating to a “sell” rating and reduced their price target for the company from $515.00 to $440.00 in a research report on Monday, June 9th. Royal Bank Of Canada reduced their price target on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial cut their price objective on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $592.86.

Read Our Latest Stock Report on ISRG

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $512.23 on Wednesday. The business’s 50 day moving average price is $537.18 and its 200-day moving average price is $536.37. The firm has a market capitalization of $183.59 billion, a PE ratio of 75.11, a P/E/G ratio of 5.48 and a beta of 1.64. Intuitive Surgical, Inc. has a 1 year low of $413.82 and a 1 year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.10. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. During the same quarter in the previous year, the company posted $1.50 earnings per share. As a group, analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the transaction, the executive vice president owned 5,224 shares of the company’s stock, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Brosius sold 216 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,998 shares of company stock worth $2,611,577. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Company Profile

(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 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.

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