On September 19, 2023, it was reported that Darwin Wealth Management LLC had purchased a new stake in Intuitive Surgical, Inc. This institutional investor acquired 627 shares of the medical equipment provider’s stock valued at approximately $213,000 during the second quarter. This information was disclosed in the company’s most recent Form 13F filing with the Securities & Exchange Commission.
Intuitive Surgical (NASDAQ:ISRG) recently announced its quarterly earnings data on July 20th. The medical equipment provider reported earnings per share (EPS) of $1.42 for the quarter, surpassing the consensus estimate of $1.33 by $0.09. The firm generated revenue of $1.76 billion during the quarter, slightly exceeding analysts’ expectations of $1.74 billion. Moreover, Intuitive Surgical demonstrated a return on equity of 12.41% and a net margin of 21.38%. Furthermore, their revenue increased by 15.4% on a year-over-year basis. In the same period last year, the company posted earnings per share of $0.85.
Sell-side analysts predict that Intuitive Surgical, Inc will post an EPS of 4.53 for the current fiscal year.
In other news related to Intuitive Surgical, CEO Gary S. Guthart sold a significant amount of company stock in two separate transactions in July: on July 28th he sold 50,314 shares for an average price of $326.76 each and then sold an additional 4,960 shares on July 31st for an average price of $325.89 per share.
The total value from these sales amounted to approximately $16,440,602.64 and $1,616,414.40 respectively.
Following these transactions Guthart currently possesses around 17,186 shares valued at approximately $5,615597 when combined.
It is worth noting that corporate insiders have sold a total of 60,309 shares of Intuitive Surgical stock over the last three months with an estimated worth of $19,649,321. These insider sales account for approximately 0.90% of the company’s total stock ownership.
Further details regarding the CEO’s transactions and other related information can be accessed via the Securities & Exchange Commission’s website.
In conclusion, Darwin Wealth Management LLC’s recent acquisition of shares in Intuitive Surgical, Inc., along with the positive earnings report and CEO Gary S. Guthart’s stock sales, provide significant insight into the current state of affairs within this medical equipment provider company. Analysts eagerly anticipate Intuitive Surgical’s future financial performance as investors closely monitor its progress in the market.
Updated on: 29/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
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Robert W. Baird
Intuitive Surgical Receives Surge in Interest from Hedge Funds and Analysts, Poised for Continued Growth
Intuitive Surgical, a leading medical equipment provider, has recently witnessed a surge in interest from various hedge funds and institutional investors. Notable among them is HHM Wealth Advisors LLC, who saw a staggering 1,314.3% growth in its position in Intuitive Surgical shares during the first quarter. This increase led to HHM Wealth Advisors LLC now owning 99 shares of the company’s stock valued at $25,000, after purchasing an additional 92 shares in the last quarter.
In addition, Bogart Wealth LLC also experienced significant growth in their stake in Intuitive Surgical by 721.4% in the same timeframe. This translated to Bogart Wealth LLC now holding 115 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 101 shares.
Other investors such as Barrett & Company Inc., Strategic Investment Solutions Inc. IL, and Addison Advisors LLC have also entered the game by purchasing new positions in Intuitive Surgical or increasing their existing ownership. These moves have undoubtedly contributed to the overwhelming ownership of institutional investors and hedge funds currently standing at 82.91% of the stock.
On September 19, 2023, Intuitive Surgical’s stock opened at $298.17 with both a 50-day moving average of $314.56 and a two-hundred day moving average of $298.07. The company boasts a market cap of $104.78 billion and exhibits a PE ratio of 74.73 along with a price-to-earnings-growth ratio of 4.15 and a beta of 1.30.
Research analyst reports have been abundant when it comes to discussing Intuitive Surgical’s prospects. Mizuho raised their price target on the company from $300.00 to $370.00, while Morgan Stanley increased their target from $310.00 to $330.00 and categorized it as an “equal weight” rating. Royal Bank of Canada reiterated an “outperform” rating with a price objective of $360.00, and Truist Financial further heightened the target to $400.00. Piper Sandler also joined in by boosting their price target on Intuitive Surgical from $315.00 to $385.00 and designated it as “overweight”.
Overall, among the analysts surveyed by Bloomberg.com, Intuitive Surgical currently enjoys a consensus rating of “Moderate Buy” and holds an average target price of $343.10.
With all these developments and endorsements, it is evident that Intuitive Surgical has garnered significant attention from investors and analysts alike. As we progress through September 2023, it will be intriguing to witness how this medical equipment provider continues to navigate the expansive field of surgical innovation and maintain its position within the market.