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

Covenant Asset Management LLC lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 82.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after purchasing an additional 670,302 shares during the last quarter. State Street Corp boosted its position in shares of Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after buying an additional 182,871 shares during the period. Geode Capital Management LLC boosted its position in shares of Intuitive Surgical by 1.4% during the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock worth $4,429,590,000 after buying an additional 109,904 shares during the period. Norges Bank bought a new position in Intuitive Surgical in the 2nd quarter worth approximately $2,569,260,000. Finally, Invesco Ltd. increased its position in Intuitive Surgical by 4.8% in the 2nd quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock valued at $2,402,488,000 after acquiring an additional 201,159 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Trading Down 0.7%

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

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

Insider Buying and Selling

In other news, insider Gary S. Guthart sold 28,800 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $547.56, for a total transaction of $15,769,728.00. Following the completion of the sale, the insider owned 27,027 shares in the company, valued at approximately $14,798,904.12. This represents a 51.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Henry L. Charlton sold 13,731 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $7,963,980.00. Following the sale, the executive vice president directly owned 3,056 shares of the company’s stock, valued at approximately $1,772,480. This represents a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 114,007 shares of company stock valued at $63,533,844 in the last three months. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

ISRG has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Hsbc Global Res upgraded shares of Intuitive Surgical to a “strong-buy” rating in a research note on Thursday, October 23rd. BTIG Research reiterated a “buy” rating and issued a $616.00 target price (up previously from $589.00) on shares of Intuitive Surgical in a research report on Wednesday, January 7th. Daiwa Capital Markets raised their target price on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Royal Bank Of Canada upped their price target on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $622.17.

Intuitive Surgical Profile

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.