8,563 Shares in Intuitive Surgical, Inc. $ISRG Purchased by Independent Financial Group LLC

Independent Financial Group LLC acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,563 shares of the medical equipment provider’s stock, valued at approximately $3,947,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ISRG. State Street Corp lifted its position in shares of Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after purchasing an additional 162,264 shares in the last quarter. Capital World Investors boosted its holdings in shares of Intuitive Surgical by 1.7% during the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $2,856,987,000. Invesco Ltd. grew its position in Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after purchasing an additional 611,268 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Intuitive Surgical by 9.4% during the fourth quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider’s stock valued at $1,951,609,000 after purchasing an additional 294,651 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $345.42 on Friday. The firm has a market cap of $122.33 billion, a PE ratio of 39.57, a PEG ratio of 3.27 and a beta of 1.46. The firm’s 50 day moving average price is $415.28 and its 200 day moving average price is $467.88. Intuitive Surgical, Inc. has a twelve month low of $344.55 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ISRG. Sanford C. Bernstein cut their target price on shares of Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a report on Tuesday, June 2nd. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $523.46.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Insider Activity at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction on Monday, June 1st. The shares were 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 approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s 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 completion of the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company’s stock.

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.