Balboa Wealth Partners Reduces Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Balboa Wealth Partners trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 51.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,035 shares of the medical equipment provider's stock after selling 2,187 shares during the period. Balboa Wealth Partners' holdings in Intuitive Surgical were worth $1,000,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC increased its holdings in shares of Intuitive Surgical by 200.0% during the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Intuitive Surgical in the second quarter worth about $26,000. Godsey & Gibb Inc. lifted its stake in shares of Intuitive Surgical by 140.0% in the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider's stock worth $29,000 after buying an additional 35 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $30,000. Finally, LGT Financial Advisors LLC increased its position in shares of Intuitive Surgical by 415.4% during the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity

In other news, SVP Henry L. Charlton sold 40,243 shares of Intuitive Surgical stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the sale, the senior vice president now directly owns 3,001 shares of the company's stock, valued at approximately $1,461,006.84. The trade was a 93.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary S. Guthart sold 18,151 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 in the company, valued at $12,391,166.97. This trade represents a 42.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,178 shares of company stock worth $45,897,071 over the last ninety days. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ISRG shares. Leerink Partners upped their price objective on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Oppenheimer reaffirmed a "market perform" rating on shares of Intuitive Surgical in a report on Friday, October 18th. Barclays lifted their price objective on Intuitive Surgical from $430.00 to $490.00 and gave the stock an "overweight" rating in a report on Thursday, July 18th. Redburn Atlantic upgraded shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and upped their target price for the company from $380.00 to $510.00 in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average target price of $513.74.

Intuitive Surgical Trading Down 1.9 %

NASDAQ ISRG traded down $10.19 on Friday, reaching $527.61. 1,447,836 shares of the stock were exchanged, compared to its average volume of 1,461,285. Intuitive Surgical, Inc. has a one year low of $295.02 and a one year high of $544.38. The firm has a market capitalization of $187.92 billion, a PE ratio of 85.96, a PEG ratio of 5.28 and a beta of 1.39. The company's 50-day simple moving average is $498.17 and its two-hundred day simple moving average is $456.22.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.24 by $0.32. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Intuitive Surgical Company 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.