Alpha Cubed Investments LLC Cuts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Alpha Cubed Investments LLC lessened its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 40.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 73,167 shares of the medical equipment provider’s stock after selling 50,068 shares during the quarter. Intuitive Surgical accounts for 1.4% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 22nd biggest holding. Alpha Cubed Investments LLC’s holdings in Intuitive Surgical were worth $24,684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. OFI Invest Asset Management purchased a new position in Intuitive Surgical in the third quarter valued at about $25,000. Baystate Wealth Management LLC grew its stake in Intuitive Surgical by 150.0% in the fourth quarter. Baystate Wealth Management LLC now owns 75 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 45 shares during the last quarter. MCF Advisors LLC grew its stake in Intuitive Surgical by 108.1% in the fourth quarter. MCF Advisors LLC now owns 77 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Headinvest LLC purchased a new position in Intuitive Surgical in the third quarter valued at about $28,000. Finally, Stone House Investment Management LLC grew its stake in shares of Intuitive Surgical by 100.0% during the third quarter. Stone House Investment Management LLC now owns 100 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded down $3.52 during trading hours on Tuesday, reaching $370.62. The company had a trading volume of 1,212,524 shares, compared to its average volume of 1,644,877. Intuitive Surgical, Inc. has a 1-year low of $254.85 and a 1-year high of $403.76. The firm has a market cap of $131.46 billion, a PE ratio of 66.90, a price-to-earnings-growth ratio of 4.85 and a beta of 1.36. The business’s 50 day moving average price is $386.10 and its 200-day moving average price is $347.50.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Intuitive Surgical had a return on equity of 12.91% and a net margin of 27.16%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. On average, analysts expect that Intuitive Surgical, Inc. will post 4.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ISRG has been the topic of a number of research analyst reports. Citigroup boosted their price target on Intuitive Surgical from $428.00 to $462.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Piper Sandler boosted their price target on Intuitive Surgical from $425.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Mizuho boosted their price target on Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. StockNews.com lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Barclays upped their target price on Intuitive Surgical from $385.00 to $430.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $396.17.

Insider Transactions at Intuitive Surgical

In related news, EVP Robert Desantis sold 1,498 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $369.92, for a total value of $554,140.16. Following the completion of the transaction, the executive vice president now directly owns 5,507 shares of the company’s stock, valued at approximately $2,037,149.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intuitive Surgical news, SVP Mark Brosius sold 196 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $400.00, for a total value of $78,400.00. Following the completion of the sale, the senior vice president now directly owns 1,842 shares in the company, valued at approximately $736,800. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert Desantis sold 1,498 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $369.92, for a total value of $554,140.16. Following the completion of the sale, the executive vice president now owns 5,507 shares of the company’s stock, valued at $2,037,149.44. The disclosure for this sale can be found here. Insiders sold a total of 226,967 shares of company stock valued at $87,848,586 in the last three months. 0.80% of the stock is currently owned by company insiders.

Intuitive Surgical 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.