Channel Wealth LLC Reduces Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Channel Wealth LLC reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,121 shares of the medical equipment provider’s stock after selling 33 shares during the period. Channel Wealth LLC’s holdings in Intuitive Surgical were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Clare Market Investments LLC grew its position in shares of Intuitive Surgical by 22.5% during the first quarter. Clare Market Investments LLC now owns 5,932 shares of the medical equipment provider’s stock worth $2,938,000 after acquiring an additional 1,088 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of Intuitive Surgical by 17.0% during the first quarter. Portside Wealth Group LLC now owns 1,356 shares of the medical equipment provider’s stock worth $708,000 after acquiring an additional 197 shares during the last quarter. Park Edge Advisors LLC grew its position in shares of Intuitive Surgical by 110.4% during the first quarter. Park Edge Advisors LLC now owns 2,348 shares of the medical equipment provider’s stock worth $1,163,000 after acquiring an additional 1,232 shares during the last quarter. Veracity Capital LLC grew its position in shares of Intuitive Surgical by 3.9% during the first quarter. Veracity Capital LLC now owns 607 shares of the medical equipment provider’s stock worth $301,000 after acquiring an additional 23 shares during the last quarter. Finally, TrueWealth Advisors LLC grew its position in shares of Intuitive Surgical by 4.1% during the first quarter. TrueWealth Advisors LLC now owns 1,079 shares of the medical equipment provider’s stock worth $534,000 after acquiring an additional 42 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 489 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $533.18, for a total value of $260,725.02. Following the sale, the senior vice president now directly owns 2,091 shares in the company, valued at $1,114,879.38. The trade was a 18.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Desantis sold 11,545 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the transaction, the executive vice president now directly owns 5,224 shares of the company’s stock, valued at $2,607,925.28. The trade was a 68.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,716 shares of company stock worth $12,831,288 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ISRG. Robert W. Baird lowered their target price on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Barclays lowered their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada lowered their price objective on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler lowered their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $596.05.

Intuitive Surgical Stock Up 1.1%

NASDAQ:ISRG opened at $557.95 on Thursday. Intuitive Surgical, Inc. has a fifty-two week low of $405.08 and a fifty-two week high of $616.00. The firm’s fifty day simple moving average is $519.52 and its 200-day simple moving average is $538.95. The stock has a market cap of $199.98 billion, a PE ratio of 87.04, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the firm earned $1.50 EPS. Equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

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.