Strait & Sound Wealth Management LLC Cuts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Strait & Sound Wealth Management LLC trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 873 shares of the medical equipment provider’s stock after selling 83 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Intuitive Surgical were worth $429,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Intuitive Surgical by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider’s stock valued at $3,677,194,000 after buying an additional 143,440 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Intuitive Surgical by 0.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 248,208 shares of the medical equipment provider’s stock worth $121,937,000 after buying an additional 861 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Intuitive Surgical during the third quarter valued at approximately $160,000. Brophy Wealth Management LLC purchased a new position in shares of Intuitive Surgical in the third quarter valued at approximately $737,000. Finally, Conway Capital Management Inc. acquired a new stake in shares of Intuitive Surgical in the third quarter worth approximately $2,245,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $538.86 on Tuesday. The stock has a market capitalization of $191.93 billion, a P/E ratio of 86.63, a PEG ratio of 5.41 and a beta of 1.38. The firm’s 50-day moving average is $517.16 and its two-hundred day moving average is $475.65. Intuitive Surgical, Inc. has a 12 month low of $309.80 and a 12 month high of $556.23.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 5.45 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, CEO Gary S. Guthart sold 18,151 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total value of $9,286,596.13. Following the completion of the transaction, the chief executive officer now owns 24,219 shares in the company, valued at $12,391,166.97. The trade was a 42.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jamie Samath sold 108 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $542.06, for a total value of $58,542.48. Following the sale, the chief financial officer now directly owns 8,757 shares in the company, valued at $4,746,819.42. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,485 shares of company stock valued at $26,128,102. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on ISRG shares. Stifel Nicolaus increased their price objective on Intuitive Surgical from $525.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on shares of Intuitive Surgical from $495.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler restated an “overweight” rating and set a $538.00 price target (up from $495.00) on shares of Intuitive Surgical in a research report on Friday, October 18th. BTIG Research increased their price objective on shares of Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group set a $604.00 target price on shares of Intuitive Surgical in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $541.33.

About Intuitive Surgical

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.