QRG Capital Management Inc. Buys 3,596 Shares of Intuitive Surgical, Inc. $ISRG

QRG Capital Management Inc. boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,672 shares of the medical equipment provider’s stock after purchasing an additional 3,596 shares during the quarter. QRG Capital Management Inc.’s holdings in Intuitive Surgical were worth $42,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chilton Capital Management LLC grew its stake in Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Elite Financial Inc. bought a new position in Intuitive Surgical in the 1st quarter valued at $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Intuitive Surgical during the 1st quarter valued at $30,000. TD Capital Management LLC increased its holdings in shares of Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 45 shares during the period. Finally, 1248 Management LLC bought a new position in shares of Intuitive Surgical in the first quarter worth $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial lifted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Evercore ISI lifted their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an “in-line” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Wells Fargo & Company raised their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group cut their price target on shares of Intuitive Surgical from $621.00 to $567.00 and set a “buy” rating for the company in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $594.19.

Insider Activity

In related news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy L. Ladd sold 336 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at approximately $504,898.14. The trade was a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

ISRG stock opened at $452.35 on Friday. The company has a market capitalization of $162.16 billion, a PE ratio of 63.09, a price-to-earnings-growth ratio of 4.64 and a beta of 1.61. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company’s 50 day moving average price is $463.55 and its two-hundred day moving average price is $500.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.26. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

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.