Concurrent Investment Advisors LLC Raises Stake in Intuitive Surgical, Inc. $ISRG

Concurrent Investment Advisors LLC boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 30.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,639 shares of the medical equipment provider’s stock after purchasing an additional 6,043 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Intuitive Surgical were worth $10,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Main Street Group LTD purchased a new position in shares of Intuitive Surgical during the first quarter worth $30,000. Compass Financial Management LLC acquired a new stake in Intuitive Surgical during the 2nd quarter worth about $30,000. Vermillion Wealth Management Inc. raised its stake in shares of Intuitive Surgical by 58.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 25 shares during the last quarter. Motiv8 Investments LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at about $34,000. Finally, Evergreen Advisors LLC purchased a new stake in shares of Intuitive Surgical in the first quarter worth about $35,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy Ladd sold 400 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the transaction, the director directly owned 251 shares in the company, valued at $95,129. The trade was a 61.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the sale, the executive vice president owned 5,320 shares of the company’s stock, valued at $2,016,280. This trade represents a 6.99% 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. Over the last 90 days, insiders sold 11,658 shares of company stock valued at $4,649,835. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $366.70 on Friday. The stock’s 50 day simple moving average is $381.44 and its 200-day simple moving average is $428.60. The company has a market cap of $129.55 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.77 and a beta of 1.47. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88.

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

Analyst Ratings Changes

Several brokerages recently weighed in on ISRG. TD Cowen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Evercore set a $430.00 price objective on Intuitive Surgical in a research report on Monday, July 6th. Oppenheimer raised shares of Intuitive Surgical from a “market perform” rating to an “outperform” rating and set a $500.00 price objective on the stock in a research note on Wednesday, August 12th. HSBC lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 target price for the company. in a report on Thursday, July 30th. Finally, Stifel Nicolaus decreased their target price on shares of Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $508.68.

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.