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

On October 20, 2024, it was reported that Claro Advisors LLC has significantly increased its investment in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 54.8% during the third quarter of the year. According to the latest filing with the Securities and Exchange Commission (SEC), Claro Advisors now holds 1,398 shares of the medical equipment firm, having purchased an additional 495 shares in the past quarter. At the close of this quarter, the value of Claro Advisors’ holdings in Intuitive Surgical was approximately $687,000.

Other institutional investors have also adjusted their stakes in Intuitive Surgical. For instance, Ullmann Wealth Partners Group LLC increased its position by 1.6% during the third quarter, now owning 1,329 shares valued at $653,000 after acquiring 21 additional shares. Similarly, One Wealth Management Investment & Advisory Services LLC expanded its stake by 3.4% in the previous quarter, resulting in ownership of 697 shares worth $310,000.

Daymark Wealth Partners LLC added to its holdings by 0.3% during the third quarter and now owns 7,027 shares valued at $3,452,000, while Indiana Trust & Investment Management Co. raised its stake by 5.3% in the second quarter, owning 500 shares worth $222,000. Lastly, Hoxton Planning & Management LLC increased its stake by 4.9%, now holding 534 shares valued at $238,000. Collectively, institutional investors and hedge funds own about 83.64% of Intuitive Surgical’s stock.

Insider Trading Activity

In insider trading news, Mark Brosius, an insider at Intuitive Surgical, sold 2,115 shares on September 12, with an average sale price of $491.91, amounting to a total value of $1,040,389.65. Following this transaction, he retains ownership of 295 shares valued at roughly $145,113.45, reflecting no substantial change in ownership percentage. This sale was disclosed in a document filed with the SEC.

Additionally, EVP Robert Desantis sold 1,413 shares on July 26 for an average price of $438.60, totaling $619,741.80. After this sale, he continues to own 5,506 shares valued at about $2,414,931.60. In the last three months, company insiders have sold a total of 53,120 shares worth $25,528,753, while insiders currently hold 0.90% of the company’s total stock.

Stock Performance Overview

As of the latest trading session, Intuitive Surgical's shares opened at $521.15. The stock has shown considerable performance with a one-year low of $254.85 and a high of $523.34. The company's 50-day moving average stands at $483.85, while the 200-day moving average is $438.17. Intuitive Surgical has a market capitalization reaching $184.85 billion, a price-to-earnings (P/E) ratio of 94.07, and a P/E/G ratio of 5.40.

Intuitive Surgical recently reported its quarterly earnings on July 18, where it posted earnings per share (EPS) of $1.78, surpassing analysts’ expectations of $1.54. The company achieved a revenue of $2.01 billion, which was higher than the anticipated $1.97 billion. This represents a 14.5% growth in revenue compared to the same quarter last year, compared to last year's EPS of $1.18. Analysts predict that Intuitive Surgical will report an EPS of 5.22 for the current year.

Market Analyst Insights

Various financial analysts have provided updated perspectives on Intuitive Surgical. Truist Financial raised its price target from $520.00 to $570.00 and maintained a “buy” rating, while Goldman Sachs set a target at $604.00 in a recent report. Raymond James upgraded its target to $540.00, describing the stock as “outperform,” while Leerink Partners lifted its price objective from $489.00 to $502.00. Finally, Royal Bank of Canada also escalated its target from $525.00 to $555.00, affirming an “outperform” rating. Market analysts maintain a consensus rating of “Moderate Buy” for the stock, with an average price target of $513.74.

About Intuitive Surgical, Inc.

Intuitive Surgical, Inc. is a prominent developer and manufacturer of medical equipment aimed at enhancing minimally invasive surgical techniques. The company’s flagship product is the da Vinci Surgical System, which supports complex surgeries through a minimally invasive approach. Additionally, the Ion endoluminal system extends the company's offerings beyond surgical procedures to include minimally invasive diagnostic capabilities.

Intuitive, Surgical, Investments, Institutional, Stock