Quantitative Investment Management LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 474.2% in the second quarter, HoldingsChannel.com reports. The fund owned 32,943 shares of the medical equipment provider’s stock after buying an additional 27,206 shares during the quarter. Intuitive Surgical comprises 1.4% of Quantitative Investment Management LLC’s portfolio, making the stock its 9th biggest position. Quantitative Investment Management LLC’s holdings in Intuitive Surgical were worth $13,100,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ISRG. Main Street Group LTD acquired a new position in shares of Intuitive Surgical during the first quarter worth approximately $30,000. Compass Financial Management LLC bought a new position in shares of Intuitive Surgical in the 2nd quarter worth $30,000. Vermillion Wealth Management Inc. boosted its holdings in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 25 shares during the last quarter. Motiv8 Investments LLC bought a new position in Intuitive Surgical during the 4th quarter worth approximately $34,000. Finally, Evergreen Advisors LLC bought a new position in shares of Intuitive Surgical during the first quarter worth $35,000. Institutional investors and hedge funds own 83.64% of the company’s stock.
Insider Buying and Selling
In related news, Director Gary S. Guthart sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the director directly owned 1,245,679 shares of the company’s stock, valued at approximately $498,271,600. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the executive vice president owned 5,320 shares of the company’s stock, valued at approximately $2,016,280. This represents a 6.99% decrease in their ownership of the stock. 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 11,658 shares of company stock worth $4,649,835 in the last three months. Insiders own 0.60% of the company’s stock.
Intuitive Surgical Stock Performance
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the previous year, the firm posted $1.81 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.
Analyst Upgrades and Downgrades
ISRG has been the subject of several research analyst reports. Truist Financial decreased their price objective on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. BNP Paribas Exane raised Intuitive Surgical to an “outperform” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a report on Wednesday, May 27th. Wells Fargo & Company reissued an “overweight” rating and issued a $487.00 target price (down from $654.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a research note on Friday, August 14th. Twenty-two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $508.68.
Get Our Latest Stock Analysis on Intuitive Surgical
Intuitive Surgical Company Profile
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.
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