Channel Wealth LLC Buys 1,269 Shares of Intuitive Surgical, Inc. $ISRG

Channel Wealth LLC raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 113.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,387 shares of the medical equipment provider’s stock after acquiring an additional 1,269 shares during the period. Channel Wealth LLC’s holdings in Intuitive Surgical were worth $1,352,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after buying an additional 731 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock worth $504,000 after buying an additional 34 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock worth $529,000 after buying an additional 268 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC lifted its position in shares of Intuitive Surgical by 92.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock worth $1,592,000 after buying an additional 1,407 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HSBC lowered their target price on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Mizuho set a $525.00 target price on Intuitive Surgical and gave the stock a “neutral” rating in a research note on Monday, April 13th. Truist Financial lowered their target price on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Evercore lowered their target price on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Finally, BTIG Research reiterated a “buy” rating and set a $574.00 target price on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average target price of $581.91.

Insider Activity

In other news, SVP Patricia L. Wadors sold 220 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total value of $109,936.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Fredrik Widman sold 133 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the transaction, the vice president directly owned 660 shares in the company, valued at approximately $326,673.60. The trade was a 16.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,906 shares of company stock valued at $2,907,726. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $450.06 on Friday. Intuitive Surgical, Inc. has a 52-week low of $427.84 and a 52-week high of $603.88. The firm has a market cap of $159.39 billion, a price-to-earnings ratio of 54.55, a PEG ratio of 3.62 and a beta of 1.51. The business’s fifty day moving average is $472.19 and its 200 day moving average is $517.39.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS 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.