Annex Advisory Services LLC Invests $30.77 Million in Intuitive Surgical, Inc. $ISRG

Key Points

• Annex Advisory Services LLC has made a new investment in Intuitive Surgical, Inc. amounting to approximately $30.77 million, acquiring 56,628 shares of the company.
• Insider transactions include Amy L. Ladd selling 335 shares and Gary S. Guthart selling 29,360 shares, reflecting significant reductions in their ownership stakes.
• Analyst ratings for Intuitive Surgical show a consensus of "Moderate Buy", with price targets from several firms reaching as high as $615.00.

Annex Advisory Services LLC acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 56,628 shares of the medical equipment provider's stock, valued at approximately $30,772,000.

Several other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $1,715,899,000. GAMMA Investing LLC boosted its holdings in shares of Intuitive Surgical by 54,010.7% during the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after purchasing an additional 3,022,979 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Intuitive Surgical by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock worth $1,396,496,000 after purchasing an additional 584,375 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock worth $1,680,922,000 after purchasing an additional 566,979 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Intuitive Surgical by 15.0% during the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock worth $1,732,975,000 after purchasing an additional 457,080 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Amy L. Ladd sold 335 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the transaction, the director directly owned 739 shares of the company's stock, valued at $325,669.91. This represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG traded up $2.89 on Friday, reaching $438.72. The company's stock had a trading volume of 3,756,410 shares, compared to its average volume of 2,373,186. The stock's 50-day moving average is $476.64 and its two-hundred day moving average is $503.43. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market capitalization of $157.27 billion, a P/E ratio of 61.19, a PEG ratio of 4.60 and a beta of 1.61.

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

Analysts Set New Price Targets

ISRG has been the topic of several analyst reports. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Evercore ISI boosted their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Company Profile

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.