Concorde Asset Management LLC Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Concorde Asset Management LLC cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 48.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465 shares of the medical equipment provider’s stock after selling 432 shares during the quarter. Concorde Asset Management LLC’s holdings in Intuitive Surgical were worth $207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC increased its holdings in Intuitive Surgical by 200.0% in the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Intuitive Surgical in the 2nd quarter valued at approximately $26,000. Able Wealth Management LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at approximately $28,000. Delos Wealth Advisors LLC raised its holdings in Intuitive Surgical by 380.0% during the first quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Intuitive Surgical in the first quarter valued at $30,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling

In other Intuitive Surgical news, insider Mark Brosius sold 2,115 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $491.91, for a total transaction of $1,040,389.65. Following the transaction, the insider now directly owns 295 shares of the company’s stock, valued at $145,113.45. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Amy L. Ladd sold 450 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $490.28, for a total value of $220,626.00. Following the completion of the sale, the director now owns 821 shares in the company, valued at $402,519.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Brosius sold 2,115 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $491.91, for a total value of $1,040,389.65. Following the transaction, the insider now directly owns 295 shares in the company, valued at $145,113.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,120 shares of company stock valued at $25,528,753. 0.90% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Up 1.6 %

Shares of NASDAQ ISRG opened at $490.01 on Friday. The stock has a market capitalization of $173.81 billion, a PE ratio of 88.45, a P/E/G ratio of 5.41 and a beta of 1.39. The firm has a fifty day moving average of $467.17 and a 200-day moving average of $424.26. Intuitive Surgical, Inc. has a 52-week low of $254.85 and a 52-week high of $496.18.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 earnings per share. Equities research analysts expect that Intuitive Surgical, Inc. will post 5.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ISRG shares. Evercore ISI cut their price target on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating for the company in a research note on Friday, July 19th. Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and upped their price target for the company from $380.00 to $510.00 in a report on Friday, August 2nd. Citigroup raised their price objective on shares of Intuitive Surgical from $512.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Truist Financial upped their target price on Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Barclays raised their price target on Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $446.45.

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.