Alpha Cubed Investments LLC Raises Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Alpha Cubed Investments increased its stake in Intuitive Surgical by 11.0% to 102,781 shares, a holding worth $58.2 million that represents about 2.0% of the firm's portfolio and is its 17th largest position.
• Intuitive Surgical posted a strong quarter—EPS $2.50 vs. $2.08 expected and revenue up 23% year‑over‑year—and analysts rate the stock a "Moderate Buy" with an average target of $581.91.
• Insiders have sold about 5,906 shares (~$2.9 million) over the last three months while institutional ownership remains high at 83.64%, and insiders collectively own just 0.60% of the stock.

Alpha Cubed Investments LLC lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,781 shares of the medical equipment provider's stock after buying an additional 10,181 shares during the period. Intuitive Surgical makes up about 2.0% of Alpha Cubed Investments LLC's portfolio, making the stock its 17th largest position. Alpha Cubed Investments LLC's holdings in Intuitive Surgical were worth $58,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ISRG. Brighton Jones LLC grew its position in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after buying an additional 731 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. grew its position in Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after purchasing an additional 268 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in Intuitive Surgical during the 2nd quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC grew its position in Intuitive Surgical by 92.4% during the 2nd 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. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Buying and Selling at Intuitive Surgical

In related news, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director directly owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 220 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,906 shares of company stock valued at $2,907,726. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ISRG shares. JPMorgan Chase & Co. dropped their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. TD Cowen dropped their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. BTIG Research reissued a "buy" rating and set a $574.00 target price on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Finally, Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective on the stock in a report on Wednesday, March 11th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $581.91.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $451.38 on Wednesday. The company has a fifty day moving average of $473.81 and a two-hundred day moving average of $517.22. The stock has a market capitalization of $159.86 billion, a PE ratio of 54.71, a P/E/G ratio of 3.61 and a beta of 1.51. Intuitive Surgical, Inc. has a fifty-two week low of $427.84 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 earnings per share. Research analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Intuitive Surgical Company 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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