Headlands Technologies LLC Buys 7,194 Shares of Intuitive Surgical, Inc. $ISRG

Headlands Technologies LLC grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 172.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,375 shares of the medical equipment provider’s stock after acquiring an additional 7,194 shares during the period. Headlands Technologies LLC’s holdings in Intuitive Surgical were worth $4,524,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Quantitative Investment Management LLC grew its position in shares of Intuitive Surgical by 474.2% during the 2nd quarter. Quantitative Investment Management LLC now owns 32,943 shares of the medical equipment provider’s stock worth $13,100,000 after buying an additional 27,206 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Intuitive Surgical by 4.8% in the second quarter. New Mexico Educational Retirement Board now owns 17,642 shares of the medical equipment provider’s stock valued at $7,016,000 after acquiring an additional 800 shares in the last quarter. Mufg Securities Americas Inc. lifted its stake in Intuitive Surgical by 8.5% in the second quarter. Mufg Securities Americas Inc. now owns 10,667 shares of the medical equipment provider’s stock worth $4,242,000 after acquiring an additional 840 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in Intuitive Surgical by 2.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 1,047 shares of the medical equipment provider’s stock worth $416,000 after acquiring an additional 26 shares during the period. Finally, Field & Main Bank bought a new position in Intuitive Surgical during the 2nd quarter worth about $1,533,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $372.60 on Monday. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The business has a 50-day moving average price of $384.60 and a 200 day moving average price of $432.33. The firm has a market cap of $131.63 billion, a PE ratio of 42.68, a P/E/G ratio of 2.69 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ISRG. Wells Fargo & Company restated an “overweight” rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. TD Cowen lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the company a “neutral” rating in a report on Wednesday, July 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Intuitive Surgical in a research report on Monday, July 20th. Finally, KeyCorp reiterated an “overweight” rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Twenty-two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $508.68.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 10,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $400.00, for a total value of $4,000,000.00. Following the completion of the sale, the director owned 1,245,679 shares in the company, valued at approximately $498,271,600. This represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $375.57, for a total transaction of $28,918.89. Following the completion of the transaction, the executive vice president directly owned 881 shares in the company, valued at $330,877.17. This trade represents a 8.04% 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. In the last 90 days, insiders sold 11,658 shares of company stock worth $4,649,835. Company insiders own 0.60% of the company’s stock.

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.