QRG Capital Management Inc. Acquires 24,352 Shares of Intuitive Surgical, Inc. $ISRG

QRG Capital Management Inc. increased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 34.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,883 shares of the medical equipment provider’s stock after purchasing an additional 24,352 shares during the quarter. QRG Capital Management Inc.’s holdings in Intuitive Surgical were worth $38,131,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alteri Wealth LLC grew its position in shares of Intuitive Surgical by 5.0% in the fourth quarter. Alteri Wealth LLC now owns 483 shares of the medical equipment provider’s stock valued at $274,000 after purchasing an additional 23 shares in the last quarter. Connecticut Wealth Management LLC increased its position in shares of Intuitive Surgical by 1.8% in the fourth quarter. Connecticut Wealth Management LLC now owns 1,308 shares of the medical equipment provider’s stock worth $741,000 after purchasing an additional 23 shares during the last quarter. 3Chopt Investment Partners LLC raised its position in shares of Intuitive Surgical by 5.2% during the 1st quarter. 3Chopt Investment Partners LLC now owns 462 shares of the medical equipment provider’s stock valued at $213,000 after buying an additional 23 shares in the last quarter. Vermillion Wealth Management Inc. raised its position in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of Intuitive Surgical by 1.0% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 2,542 shares of the medical equipment provider’s stock valued at $1,172,000 after buying an additional 25 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. KeyCorp restated an “overweight” rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. HSBC cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target on the stock. in a research report on Thursday, July 30th. TD Cowen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a research report on Wednesday, May 27th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Twenty-two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $508.68.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical 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 directly owned 5,320 shares in the company, valued at $2,016,280. This trade represents a 6.99% decrease in their position. The transaction 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, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total transaction of $28,918.89. Following the transaction, the executive vice president directly owned 881 shares of the company’s stock, valued at approximately $330,877.17. This trade represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 12,370 shares of company stock valued at $4,891,989. 0.60% of the stock is owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG traded down $3.79 during mid-day trading on Wednesday, reaching $398.30. The company’s stock had a trading volume of 1,686,001 shares, compared to its average volume of 2,453,334. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock has a fifty day moving average of $373.03 and a two-hundred day moving average of $417.79. The firm has a market capitalization of $140.71 billion, a PE ratio of 45.62, a P/E/G ratio of 3.03 and a beta of 1.47.

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

About Intuitive Surgical

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company’s principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.