Intuitive Surgical, Inc. $ISRG Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 23.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,685 shares of the medical equipment provider’s stock after selling 1,775 shares during the quarter. Oak Asset Management LLC’s holdings in Intuitive Surgical were worth $2,543,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam grew its position in shares of Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC acquired a new position in Intuitive Surgical during the 2nd quarter valued at about $27,000. 1248 Management LLC bought a new position in Intuitive Surgical in the 1st quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $30,000. Finally, Riggs Asset Managment Co. Inc. increased its stake in shares of Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 32 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Down 0.5%

NASDAQ:ISRG opened at $572.63 on Wednesday. The business’s 50-day moving average price is $560.07 and its 200 day moving average price is $507.87. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The firm has a market cap of $205.27 billion, a P/E ratio of 75.74, a PEG ratio of 5.26 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. Sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Mizuho set a $575.00 price target on Intuitive Surgical in a report on Wednesday, October 22nd. Daiwa Capital Markets lifted their price objective on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Rothschild & Co Redburn increased their target price on shares of Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, BTIG Research raised their target price on shares of Intuitive Surgical from $529.00 to $589.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $611.08.

Insider Activity

In other Intuitive Surgical news, EVP Henry L. Charlton sold 13,731 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $7,963,980.00. Following the transaction, the executive vice president owned 3,056 shares in the company, valued at approximately $1,772,480. The trade was a 81.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 464 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $548.49, for a total value of $254,499.36. Following the completion of the transaction, the senior vice president directly owned 131 shares in the company, valued at $71,852.19. This represents a 77.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,007 shares of company stock valued at $63,533,844 in the last ninety days. 0.70% of the stock is owned by company insiders.

About Intuitive Surgical

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.