Axxcess Wealth Management LLC Cuts Stock Holdings in Intuitive Surgical, Inc. $ISRG

Axxcess Wealth Management LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 28.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,911 shares of the medical equipment provider’s stock after selling 3,106 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intuitive Surgical were worth $3,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Intuitive Surgical during the second quarter valued at approximately $2,569,260,000. Rakuten Investment Management Inc. bought a new stake in Intuitive Surgical during the 3rd quarter valued at $388,436,000. Vanguard Group Inc. boosted its position in Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after buying an additional 670,302 shares during the period. Jennison Associates LLC grew its holdings in Intuitive Surgical by 20.4% in the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock worth $1,696,738,000 after acquiring an additional 528,359 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Intuitive Surgical by 89.3% in the second quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock valued at $428,386,000 after acquiring an additional 371,806 shares during the period. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Myriam Curet sold 421 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $208,378.16. Following the sale, the executive vice president owned 409 shares in the company, valued at $202,438.64. This represents a 50.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the transaction, the vice president directly owned 660 shares of the company’s stock, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,189 shares of company stock worth $30,785,441. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Up 1.5%

Shares of ISRG stock opened at $500.76 on Thursday. The business’s fifty day moving average is $537.60 and its 200 day moving average is $510.44. The stock has a market cap of $177.83 billion, a price-to-earnings ratio of 63.47, a PEG ratio of 3.82 and a beta of 1.65. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $609.08.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. Equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ISRG shares. Raymond James Financial increased their target price on shares of Intuitive Surgical from $603.00 to $615.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. UBS Group reiterated a “neutral” rating on shares of Intuitive Surgical in a report on Thursday, January 15th. Argus cut their price objective on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Piper Sandler restated an “overweight” rating and set a $620.00 target price (up previously from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Finally, Barclays set a $712.00 price target on shares of Intuitive Surgical and gave the company an “overweight” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus price target of $617.23.

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.