Intuitive Surgical, Inc. $ISRG is Connective Capital Management LLC’s 3rd Largest Position

Connective Capital Management LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,392 shares of the medical equipment provider’s stock after buying an additional 1,463 shares during the period. Intuitive Surgical makes up 7.8% of Connective Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Connective Capital Management LLC’s holdings in Intuitive Surgical were worth $13,248,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Draper Asset Management LLC increased its stake in shares of Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after purchasing an additional 1,485 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after purchasing an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after purchasing an additional 16,119 shares in the last quarter. Procyon Advisors LLC boosted its position in shares of Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after purchasing an additional 4,254 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Intuitive Surgical by 22.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider’s stock worth $5,127,000 after buying an additional 2,102 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 1.1%

Shares of NASDAQ ISRG opened at $406.78 on Friday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The firm has a market cap of $144.07 billion, a P/E ratio of 49.31, a PEG ratio of 3.27 and a beta of 1.46. The company has a 50 day moving average of $439.54 and a 200 day moving average of $491.05.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ISRG. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Mizuho set a $525.00 target price on Intuitive Surgical and gave the stock a “neutral” rating in a report on Monday, April 13th. Barclays set a $651.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. TD Cowen reduced their price target on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group lowered their price target on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $573.42.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at $2,718,014.65. The trade was a 46.53% 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 7,169 shares of company stock worth $3,059,135 over the last quarter. 0.60% of the stock is currently owned by insiders.

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.