Harrington Investments INC Decreases Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Harrington Investments INC decreased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,225 shares of the medical equipment provider’s stock after selling 51 shares during the period. Harrington Investments INC’s holdings in Intuitive Surgical were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after acquiring an additional 731 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Intuitive Surgical in the fourth quarter worth about $6,509,000. Silver Oak Securities Incorporated raised its stake in Intuitive Surgical by 12.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,784 shares of the medical equipment provider’s stock valued at $940,000 after buying an additional 203 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Intuitive Surgical by 50,740.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 312,671 shares of the medical equipment provider’s stock valued at $163,202,000 after purchasing an additional 312,056 shares during the last quarter. Finally, Telligent Fund LP bought a new position in shares of Intuitive Surgical during the fourth quarter valued at approximately $1,566,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ISRG. Robert W. Baird decreased their price target on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Citigroup reaffirmed a “buy” rating and set a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday. Piper Sandler decreased their price target on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Evercore ISI cut their price objective on Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $596.05.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $557.08 on Friday. The company has a market capitalization of $199.67 billion, a price-to-earnings ratio of 86.91, a PEG ratio of 5.85 and a beta of 1.67. Intuitive Surgical, Inc. has a one year low of $413.52 and a one year high of $616.00. The company’s fifty day moving average price is $521.99 and its two-hundred day moving average price is $539.26.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results 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. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Brian Edward Miller sold 8,900 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total value of $4,317,123.00. Following the sale, the executive vice president now directly owns 5,758 shares of the company’s stock, valued at approximately $2,793,033.06. This trade represents a 60.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president now directly owns 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,443 shares of company stock valued at $12,692,195 over the last three months. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Company Profile

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.