Abner Herrman & Brock LLC Decreases Stock Position in Intuitive Surgical, Inc. $ISRG

Abner Herrman & Brock LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,318 shares of the medical equipment provider’s stock after selling 1,788 shares during the period. Abner Herrman & Brock LLC’s holdings in Intuitive Surgical were worth $8,080,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ISRG. Brighton Jones LLC increased its position in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after purchasing an additional 731 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock worth $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock worth $529,000 after acquiring an additional 268 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Intuitive Surgical in the 2nd quarter valued at about $200,000. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Intuitive Surgical by 92.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after acquiring an additional 1,407 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 1.4%

NASDAQ ISRG opened at $378.81 on Friday. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88. The business’s 50-day moving average price is $392.87 and its 200 day moving average price is $445.78. The firm has a market cap of $133.83 billion, a P/E ratio of 43.39, a P/E/G ratio of 2.70 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.32. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the business posted $1.81 EPS. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

ISRG has been the topic of several research analyst reports. Sanford C. Bernstein cut their target price on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. TD Cowen downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reduced their price objective on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $509.02.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were 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 in the company, valued at $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction that occurred 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 directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents 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. Over the last ninety days, insiders have sold 6,634 shares of company stock valued at $2,796,795. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical 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.