93,927 Shares in Intuitive Surgical, Inc. $ISRG Bought by Bamco Inc. NY

Key Points

• Bamco Inc. NY initiated a position in Intuitive Surgical by purchasing 93,927 shares worth approximately $37.4 million. Institutional investors collectively own 83.64% of the company.
• Analysts remain broadly positive, with 22 Buy ratings, eight Holds and one Sell; the stock carries a “Moderate Buy” consensus and an average price target of $508.68, despite several recent target reductions.
• Intuitive Surgical reported better-than-expected quarterly results, including $2.80 in EPS and $2.89 billion in revenue, with revenue rising 18.4% year over year. Shares opened at $370.42, well below their 52-week high of $603.88.

Bamco Inc. NY purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,927 shares of the medical equipment provider's stock, valued at approximately $37,353,000.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its position in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares during the last quarter. Sivia Capital Partners LLC raised its position in Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 34 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Intuitive Surgical by 38.0% during the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Intuitive Surgical during the second quarter valued at about $200,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after purchasing an additional 1,407 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. BNP Paribas Exane upgraded shares of Intuitive Surgical to an "outperform" rating in a report on Tuesday, July 28th. KeyCorp restated an "overweight" rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. JPMorgan Chase & Co. dropped their target price on Intuitive Surgical from $550.00 to $450.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Citigroup reduced their price objective on Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating for the company in a research note on Friday, July 17th. Finally, HSBC downgraded Intuitive Surgical from a "buy" rating to a "hold" rating and set a $391.00 price objective on the stock. in a research note on Thursday, July 30th. 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 stock. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus price target of $508.68.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $370.42 on Thursday. The firm has a market capitalization of $130.86 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.69 and a beta of 1.46. The stock has a 50 day moving average price of $386.07 and a 200-day moving average price of $434.03. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share 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 return on equity of 16.91% and a net margin of 28.45%.Intuitive Surgical's revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 EPS. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the company's stock in a transaction on Monday, June 1st. The stock was 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 in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction 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 transaction, the executive vice president owned 5,320 shares in the company, valued at $2,016,280. This represents a 6.99% decrease in their ownership of the stock. 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 90 days, insiders sold 17,283 shares of company stock valued at $7,015,429. 0.60% of the stock is owned by company insiders.

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.

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