Jag Capital Management LLC Has $16.07 Million Stock Holdings in Intuitive Surgical, Inc. $ISRG

Jag Capital Management LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.2% during the 1st quarter, HoldingsChannel reports. The firm owned 34,869 shares of the medical equipment provider’s stock after acquiring an additional 1,725 shares during the period. Intuitive Surgical comprises 1.8% of Jag Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Jag Capital Management LLC’s holdings in Intuitive Surgical were worth $16,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Intuitive Surgical in the 4th quarter valued at $2,856,987,000. J. Stern & Co. LLP grew its position in Intuitive Surgical by 18,504.6% during the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after acquiring an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Polen Capital Management LLC acquired a new position in Intuitive Surgical in the 4th quarter worth about $477,225,000. Finally, Assenagon Asset Management S.A. raised its position in Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after purchasing an additional 791,516 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Trading Up 3.4%

NASDAQ:ISRG opened at $402.33 on Friday. The stock has a market capitalization of $142.49 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 3.16 and a beta of 1.46. The firm has a fifty day simple moving average of $417.37 and a two-hundred day simple moving average of $468.74. Intuitive Surgical, Inc. has a 12 month low of $378.50 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business posted $1.81 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Key Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the sale, the director owned 239 shares of the company’s stock, valued at approximately $113,156.94. This represents a 67.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,169 shares of company stock worth $3,059,135. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ISRG shares. Evercore set a $430.00 target price on shares of Intuitive Surgical in a research report on Monday, July 6th. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the stock a “neutral” rating in a report on Wednesday. Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Bank of America lowered their price objective on Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $562.62.

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.