Perceptive Advisors LLC Increases Stake in Intuitive Surgical, Inc. $ISRG

Perceptive Advisors LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 68.7% during the 4th quarter, HoldingsChannel reports. The fund owned 87,919 shares of the medical equipment provider’s stock after acquiring an additional 35,800 shares during the period. Perceptive Advisors LLC’s holdings in Intuitive Surgical were worth $49,794,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. IHT Wealth Management LLC lifted its holdings in shares of Intuitive Surgical by 4.1% during the 4th quarter. IHT Wealth Management LLC now owns 3,749 shares of the medical equipment provider’s stock worth $2,123,000 after acquiring an additional 147 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of Intuitive Surgical by 12.2% during the 4th quarter. Gotham Asset Management LLC now owns 18,498 shares of the medical equipment provider’s stock worth $10,477,000 after acquiring an additional 2,011 shares during the period. Evolve Private Wealth LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter worth about $490,000. Eversept Partners LP lifted its holdings in shares of Intuitive Surgical by 25.2% during the 4th quarter. Eversept Partners LP now owns 18,062 shares of the medical equipment provider’s stock worth $10,230,000 after acquiring an additional 3,636 shares during the period. Finally, First Manhattan CO. LLC. lifted its holdings in shares of Intuitive Surgical by 64.0% during the 4th quarter. First Manhattan CO. LLC. now owns 2,463 shares of the medical equipment provider’s stock worth $1,395,000 after acquiring an additional 961 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ISRG shares. UBS Group cut their price objective on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Evercore cut their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Raymond James Financial cut their price target on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Jefferies Financial Group cut their price target on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Finally, Citigroup upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target on the stock in a report on Wednesday, March 11th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $573.42.

Insider Activity at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following 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 transaction 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, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This represents a 46.53% decrease in their position. 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 quarter, insiders have sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $402.18 on Thursday. Intuitive Surgical, Inc. has a one year low of $396.68 and a one year high of $603.88. The company’s 50 day moving average price is $440.46 and its 200 day moving average price is $492.22. The firm has a market capitalization of $142.44 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 3.39 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly 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 net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted $1.81 earnings per share. Intuitive Surgical’s revenue for the quarter was up 23.0% compared to the same quarter last year. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

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.