ADAR1 Capital Management LLC Purchases New Position in Intuitive Surgical, Inc. $ISRG

Key Points

• ADAR1 Capital Management LLC has acquired a new stake in Intuitive Surgical, purchasing 700 shares valued at approximately $347,000 in the first quarter.
• Intuitive Surgical reported a 21.4% increase in quarterly revenue year-over-year, totaling $2.44 billion, with earnings per share surpassing analysts' expectations.
• Major institutional investors have significantly increased their holdings in Intuitive Surgical, with 83.64% of the stock now owned by hedge funds and other institutional investors.

ADAR1 Capital Management LLC purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 700 shares of the medical equipment provider's stock, valued at approximately $347,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ISRG. Chilton Capital Management LLC lifted its stake in Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Global Financial Private Client LLC lifted its stake in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Elite Financial Inc. bought a new stake in Intuitive Surgical during the first quarter worth $26,000. LFA Lugano Financial Advisors SA bought a new stake in Intuitive Surgical during the first quarter worth $30,000. Finally, TD Capital Management LLC lifted its stake in Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 45 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ISRG shares. Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Evercore ISI increased their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a report on Tuesday, July 8th. Piper Sandler restated an "overweight" rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Up 3.0%

Intuitive Surgical stock traded up $13.34 during trading hours on Thursday, reaching $454.52. 3,938,868 shares of the company's stock were exchanged, compared to its average volume of 1,868,338. The firm has a market capitalization of $162.94 billion, a PE ratio of 63.39, a PEG ratio of 4.62 and a beta of 1.61. The firm's 50 day simple moving average is $495.33 and its 200 day simple moving average is $514.32. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business's revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. Analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 336 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares of the company's stock, valued at $504,898.14. This represents a 23.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,440 shares of company stock worth $21,838,124 over the last quarter. Company insiders own 0.70% of the company's stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.