Weiss Asset Management LP Takes Position in Intuitive Surgical, Inc. $ISRG

Weiss Asset Management LP acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRGFree Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,600 shares of the medical equipment provider’s stock, valued at approximately $5,808,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. increased its stake in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 33 shares during the period. Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical during the fourth quarter worth about $31,000. Turning Point Benefit Group Inc. lifted its stake in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 50 shares during the period. Motiv8 Investments LLC acquired a new stake in Intuitive Surgical during the fourth quarter valued at approximately $34,000. Finally, Oakworth Capital Inc. boosted its holdings in Intuitive Surgical by 281.2% during the fourth quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ISRG shares. BMO Capital Markets reissued an “outperform” rating on shares of Intuitive Surgical in a report on Monday, July 20th. HSBC cut their target price on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Piper Sandler reiterated an “overweight” rating and issued a $470.00 price target (down from $580.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Raymond James Financial reiterated an “outperform” rating and issued a $483.00 price target (down from $577.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Finally, Citigroup dropped their price objective on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $523.46.

View Our Latest Stock Analysis on Intuitive Surgical

Insider Activity at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director directly owned 120 shares in the company, valued at approximately $55,620. This represents a 49.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Up 1.7%

Shares of NASDAQ:ISRG opened at $337.50 on Friday. The firm has a market cap of $119.23 billion, a P/E ratio of 38.66, a P/E/G ratio of 2.44 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The company’s 50-day moving average price is $406.88 and its two-hundred day moving average price is $459.98.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The company’s revenue was up 18.4% on a year-over-year basis. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Intuitive Surgical Profile

(Free Report)

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

Further Reading

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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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