HUB Investment Partners LLC Sells 8,219 Shares of Intuitive Surgical, Inc. $ISRG

HUB Investment Partners LLC lessened its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.6% during the third quarter, Holdings Channel.com reports. The fund owned 52,043 shares of the medical equipment provider’s stock after selling 8,219 shares during the period. Intuitive Surgical accounts for 0.8% of HUB Investment Partners LLC’s holdings, making the stock its 22nd largest holding. HUB Investment Partners LLC’s holdings in Intuitive Surgical were worth $23,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Intuitive Surgical by 0.8% in the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock worth $15,026,776,000 after purchasing an additional 263,828 shares during the last quarter. State Street Corp increased its stake in shares of Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock valued at $8,451,223,000 after buying an additional 182,871 shares during the period. Geode Capital Management LLC increased its stake in shares of Intuitive Surgical by 1.4% during the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after buying an additional 109,904 shares during the period. Norges Bank purchased a new stake in Intuitive Surgical in the second quarter worth $2,569,260,000. Finally, Invesco Ltd. boosted its holdings in Intuitive Surgical by 4.8% in the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock valued at $2,402,488,000 after acquiring an additional 201,159 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ISRG shares. HSBC upped their price objective on shares of Intuitive Surgical from $644.00 to $653.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Robert W. Baird reduced their price target on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Piper Sandler reissued an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Truist Financial raised their price objective on shares of Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada lifted their price objective on Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $615.86.

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 648 shares of Intuitive Surgical stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $495.20, for a total value of $320,889.60. Following the completion of the transaction, the senior vice president owned 2,906 shares of the company’s stock, valued at $1,439,051.20. The trade was a 18.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Myriam Curet sold 421 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $208,378.16. Following the completion of the transaction, the executive vice president owned 409 shares in the company, valued at approximately $202,438.64. The trade was a 50.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,261 shares of company stock valued at $19,690,721. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $490.16 on Friday. The firm has a market capitalization of $174.07 billion, a P/E ratio of 62.12, a PEG ratio of 3.83 and a beta of 1.66. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $603.88. The company’s 50-day simple moving average is $521.64 and its 200 day simple moving average is $512.05.

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

About Intuitive Surgical

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.