Braidwell LP Sells 7,160 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Braidwell LP reduced its Intuitive Surgical stake by 9.3%, selling 7,160 shares in the second quarter and retaining 70,137 shares valued at approximately $27.9 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly EPS of $2.80, beating estimates of $2.48, while revenue rose 18.4% year over year to $2.89 billion. The stock recently traded at $371.88, near the lower end of its 12-month range.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $508.68, despite some hold ratings. Company insiders sold 11,658 shares worth about $4.65 million over the past quarter, primarily through pre-arranged trading plans.

Braidwell LP lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,137 shares of the medical equipment provider's stock after selling 7,160 shares during the quarter. Braidwell LP's holdings in Intuitive Surgical were worth $27,892,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Intuitive Surgical by 9.6% in the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock valued at $862,108,000 after buying an additional 132,966 shares in the last quarter. Jag Capital Management LLC bought a new position in Intuitive Surgical during the fourth quarter worth about $18,771,000. Sycomore Asset Management acquired a new position in Intuitive Surgical in the fourth quarter valued at about $10,730,000. Plato Investment Management Ltd acquired a new position in Intuitive Surgical in the second quarter valued at about $4,315,000. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Intuitive Surgical by 348.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 50,400 shares of the medical equipment provider's stock worth $28,545,000 after acquiring an additional 39,166 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Trading Up 0.7%

NASDAQ ISRG opened at $371.88 on Thursday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a 50 day moving average of $382.80 and a 200-day moving average of $429.86. The company has a market cap of $131.38 billion, a PE ratio of 42.60, a PEG ratio of 2.79 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.32. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, sell-side analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a research report on Friday, August 14th. Evercore set a $430.00 target price on Intuitive Surgical in a research note on Monday, July 6th. KeyCorp restated an "overweight" rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Intuitive Surgical in a research note on Friday, August 21st. Twenty-two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $508.68.

Insider Activity

In related news, Director Gary S. Guthart sold 10,000 shares of Intuitive Surgical stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the director owned 1,245,679 shares in the company, valued at approximately $498,271,600. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the transaction, the executive vice president directly owned 5,320 shares in the company, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,658 shares of company stock valued at $4,649,835 over the last quarter. 0.60% of the stock is currently owned by company insiders.

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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