Companies

Claro Advisors LLC Expands Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Published October 20, 2024

Claro Advisors LLC has increased its investment in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 54.8% during the third quarter, according to a recent filing with the Securities and Exchange Commission (SEC). After acquiring an additional 495 shares, the institutional investor now owns a total of 1,398 shares of this leading medical equipment manufacturer, which were valued at $687,000 at the close of the quarter.

In addition to Claro Advisors, several other institutional investors have altered their stakes in Intuitive Surgical. For example, Ullmann Wealth Partners Group LLC raised its position by 1.6% during the third quarter, owning 1,329 shares worth approximately $653,000 after purchasing 21 additional shares in the last quarter. Similarly, One Wealth Management Investment & Advisory Services LLC boosted its stake by 3.4% in the prior quarter, now holding 697 shares valued at $310,000 after buying 23 more shares. Daymark Wealth Partners LLC increased its shareholding by 0.3% in the third quarter, possessing 7,027 shares worth $3,452,000 after acquiring 24 shares in the previous quarter. Indiana Trust & Investment Management CO raised its stake by 5.3% during the second quarter, now owning 500 shares valued at $222,000 after buying 25 shares. Hoxton Planning & Management LLC also raised its stake by 4.9%, holding 534 shares worth $238,000 after adding 25 shares. Overall, institutional investors and hedge funds currently own approximately 83.64% of Intuitive Surgical's stock.

Insider Transactions

In related news, insider Mark Brosius sold 2,115 shares of Intuitive Surgical on Thursday, September 12. The shares were sold at an average price of $491.91, totaling $1,040,389.65. After this sale, Brosius retains ownership of 295 shares valued around $145,113.45, reflecting a negligible change in ownership. This transaction has been reported in official filings with the SEC. Additionally, EVP Robert Desantis sold 1,413 shares on Friday, July 26, at an average price of $438.60, amounting to a total of $619,741.80. Following this sale, Desantis holds 5,506 shares valued at $2,414,931.60, indicating a minimal decline in his ownership as well. In recent months, insiders have collectively sold 53,120 shares, amounting to $25,528,753, with company insiders owning 0.90% of the stock.

Stock Performance Overview

On Friday, Intuitive Surgical's stock opened at $521.15. Over the past year, the stock reached a low of $254.85 and a high of $523.34. The stock's 50-day simple moving average stands at $483.85, while the 200-day average is at $438.17. Intuitive Surgical boasts a market capitalization of $184.85 billion, a P/E ratio of 94.07, and a P/E/G ratio of 5.40, with a beta of 1.39. The company last reported its quarterly earnings on July 18, with an earnings per share (EPS) of $1.78, exceeding analyst expectations of $1.54. The revenue for the quarter hit $2.01 billion, surpassing anticipated figures of $1.97 billion, reflecting a year-over-year revenue increase of 14.5%. Analysts project an EPS of 5.22 for the current year.

Analyst Ratings Update

Recent reports from various analysts have influenced perceptions of Intuitive Surgical. Truist Financial raised its price target from $520.00 to $570.00, assigning a "buy" rating in a note dated October 14. The Goldman Sachs Group set a price target of $604.00, while Raymond James increased their target from $500.00 to $540.00, also rating the stock as "outperform". Leerink Partners adjusted its price objective from $489.00 to $502.00. Finally, Royal Bank of Canada raised the target from $525.00 to $555.00, maintaining an "outperform" rating. Among analysts, one has rated the stock as a "sell", five as "hold", and fourteen have issued "buy" recommendations. The consensus rating is labeled as a "Moderate Buy" with an average price target of $513.74.

Company Overview

Intuitive Surgical, Inc. is a prominent player in the field of medical technology, specializing in the development, manufacturing, and marketing of products that enhance the quality of minimally invasive care globally. The company is best known for its da Vinci Surgical System, which facilitates complex surgeries via minimally invasive methods. Additionally, it offers the Ion endoluminal system, expanding its capabilities into diagnostic procedures, enabling minimally invasive lung biopsies.

Intuitive, Surgical, Investors