Baker Avenue Asset Management LP Acquires 2,611 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Baker Avenue Asset Management increased its stake in Intuitive Surgical by 13.9% in the fourth quarter, adding 2,611 shares to bring its total holding to 21,428 shares worth about $12.1 million.
• Intuitive Surgical reported strong quarterly results, posting earnings of $2.50 per share versus the $2.08 consensus and revenue of $2.77 billion, up 23% year over year.
• Analyst sentiment remains generally positive despite some target cuts, with the stock carrying a Moderate Buy consensus and an average price target of $576.71; meanwhile, insiders have recently sold shares.

Baker Avenue Asset Management LP lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 13.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,428 shares of the medical equipment provider's stock after acquiring an additional 2,611 shares during the quarter. Baker Avenue Asset Management LP's holdings in Intuitive Surgical were worth $12,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ISRG. Brighton Jones LLC boosted its stake in shares of 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 period. Sivia Capital Partners LLC boosted its stake in shares of Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 34 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of 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 acquiring an additional 268 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC boosted its stake in shares of 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 acquiring an additional 1,407 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $418.55 on Thursday. The stock has a market capitalization of $148.23 billion, a PE ratio of 50.73, a P/E/G ratio of 3.49 and a beta of 1.51. The business has a fifty day moving average price of $455.79 and a two-hundred day moving average price of $507.97. Intuitive Surgical, Inc. has a fifty-two week low of $414.30 and a fifty-two week high of $603.88.

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

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the completion of the transaction, the director owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total value of $1,177,882.16. Following the transaction, the senior vice president directly owned 3,554 shares of the company's stock, valued at $1,772,308.72. This trade represents a 39.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,701 shares of company stock worth $2,783,807 in the last three months. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. JPMorgan Chase & Co. reduced their price target on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Piper Sandler reduced their price target on Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen downgraded Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Robert W. Baird boosted their price target on Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $576.71.

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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