Marion Wealth Management Makes New Investment in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Marion Wealth Management purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, Holdings Channel reports. The fund purchased 386 shares of the medical equipment provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its position in Intuitive Surgical by 7.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 1,948 shares of the medical equipment provider’s stock worth $1,017,000 after purchasing an additional 143 shares during the last quarter. Sunflower Bank N.A. increased its stake in shares of Intuitive Surgical by 3.6% in the fourth quarter. Sunflower Bank N.A. now owns 725 shares of the medical equipment provider’s stock valued at $378,000 after buying an additional 25 shares during the period. Burns J W & Co. Inc. NY raised its position in shares of Intuitive Surgical by 2.7% during the fourth quarter. Burns J W & Co. Inc. NY now owns 10,090 shares of the medical equipment provider’s stock worth $5,267,000 after acquiring an additional 263 shares during the last quarter. Eastern Bank lifted its stake in shares of Intuitive Surgical by 5.0% in the fourth quarter. Eastern Bank now owns 4,266 shares of the medical equipment provider’s stock worth $2,227,000 after acquiring an additional 203 shares during the period. Finally, Claro Advisors LLC boosted its holdings in Intuitive Surgical by 3.1% in the fourth quarter. Claro Advisors LLC now owns 1,250 shares of the medical equipment provider’s stock valued at $652,000 after acquiring an additional 37 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG traded down $7.72 during midday trading on Monday, hitting $539.75. 1,461,060 shares of the company’s stock were exchanged, compared to its average volume of 1,351,010. Intuitive Surgical, Inc. has a 12 month low of $355.17 and a 12 month high of $556.23. The company has a market cap of $192.25 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 5.31 and a beta of 1.39. The stock has a 50 day moving average price of $535.93 and a 200-day moving average price of $495.17.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. On average, analysts anticipate that Intuitive Surgical, Inc. will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, CEO Gary S. Guthart sold 18,151 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total value of $9,286,596.13. Following the sale, the chief executive officer now directly owns 24,219 shares of the company’s stock, valued at approximately $12,391,166.97. This represents a 42.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Edward Miller sold 2,553 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $515.00, for a total transaction of $1,314,795.00. Following the completion of the transaction, the executive vice president now owns 7,066 shares of the company’s stock, valued at $3,638,990. This trade represents a 26.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,190 shares of company stock worth $25,012,927 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ISRG shares. JPMorgan Chase & Co. boosted their price target on shares of Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Mizuho upped their price target on shares of Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. Leerink Partners lifted their price objective on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Robert W. Baird upped their target price on Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Truist Financial lifted their target price on Intuitive Surgical from $570.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $554.17.

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.