Investment Partners LTD. Reduces Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Investment Partners LTD. reduced its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,101 shares of the medical equipment provider’s stock after selling 30 shares during the quarter. Investment Partners LTD.’s holdings in Intuitive Surgical were worth $490,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Gilbert & Cook Inc. lifted its holdings in Intuitive Surgical by 6.5% in the fourth quarter. Gilbert & Cook Inc. now owns 3,437 shares of the medical equipment provider’s stock worth $1,160,000 after buying an additional 211 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Intuitive Surgical by 172.4% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 779 shares of the medical equipment provider’s stock valued at $263,000 after purchasing an additional 493 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Intuitive Surgical by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 519,807 shares of the medical equipment provider’s stock valued at $175,364,000 after purchasing an additional 4,335 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Intuitive Surgical by 4.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 9,508 shares of the medical equipment provider’s stock worth $3,208,000 after purchasing an additional 403 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new position in Intuitive Surgical in the fourth quarter worth $245,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ISRG has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Intuitive Surgical from $487.00 to $503.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Stifel Nicolaus upped their price objective on shares of Intuitive Surgical from $430.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Redburn Atlantic upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and upped their price target for the stock from $380.00 to $510.00 in a research note on Friday, August 2nd. The Goldman Sachs Group began coverage on Intuitive Surgical in a research note on Thursday, May 30th. They issued a “buy” rating and a $500.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $446.45.

Insiders Place Their Bets

In related news, Director Amal M. Johnson sold 2,943 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the completion of the transaction, the director now directly owns 12,275 shares in the company, valued at approximately $5,441,507.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Amal M. Johnson sold 2,943 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the sale, the director now directly owns 12,275 shares in the company, valued at approximately $5,441,507.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Desantis sold 396 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $486.88, for a total transaction of $192,804.48. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,680,761.28. The disclosure for this sale can be found here. Insiders sold a total of 50,555 shares of company stock worth $24,267,737 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Up 1.4 %

ISRG opened at $490.93 on Thursday. The firm’s 50 day simple moving average is $461.63 and its two-hundred day simple moving average is $420.33. The company has a market capitalization of $174.13 billion, a PE ratio of 88.62, a PEG ratio of 5.20 and a beta of 1.39. Intuitive Surgical, Inc. has a 1-year low of $254.85 and a 1-year high of $493.97.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. Intuitive Surgical’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $1.18 EPS. Equities analysts forecast that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current fiscal year.

About Intuitive Surgical

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.