Peregrine Capital Management LLC Lowers Stake in Intuitive Surgical, Inc. $ISRG

Peregrine Capital Management LLC decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 106,531 shares of the medical equipment provider’s stock after selling 2,207 shares during the quarter. Intuitive Surgical comprises 1.4% of Peregrine Capital Management LLC’s portfolio, making the stock its 15th largest holding. Peregrine Capital Management LLC’s holdings in Intuitive Surgical were worth $47,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tobam increased its stake in Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 40 shares during the period. Kilter Group LLC purchased a new stake in shares of Intuitive Surgical during the second quarter worth $27,000. Princeton Global Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at $30,000. Riggs Asset Managment Co. Inc. raised its stake in shares of Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its holdings in Intuitive Surgical by 3,750.0% in the second quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 75 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

ISRG opened at $585.08 on Friday. The stock has a market capitalization of $209.74 billion, a P/E ratio of 77.39, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The business’s 50-day simple moving average is $564.92 and its 200-day simple moving average is $511.04.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ISRG has been the topic of several recent research reports. HSBC upped their price target on Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Argus increased their price objective on shares of Intuitive Surgical from $600.00 to $630.00 in a research report on Monday, October 27th. Leerink Partners raised their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Truist Financial boosted their target price on shares of Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, BTIG Research restated a “buy” rating and issued a $616.00 price target (up from $589.00) on shares of Intuitive Surgical in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $619.88.

Insider Buying and Selling at Intuitive Surgical

In related news, SVP Mark Brosius sold 464 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $548.49, for a total value of $254,499.36. Following the transaction, the senior vice president owned 131 shares in the company, valued at $71,852.19. The trade was a 77.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Henry L. Charlton sold 13,731 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $7,963,980.00. Following the completion of the transaction, the executive vice president owned 3,056 shares in the company, valued at $1,772,480. This trade represents a 81.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 114,007 shares of company stock valued at $63,533,844. Corporate insiders own 0.70% of the company’s stock.

About Intuitive Surgical

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.