Capital Investment Services of America Inc. Buys 30,207 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Capital Investment Services of America opened a new Intuitive Surgical position, buying 30,207 shares valued at approximately $12.3 million in the third quarter. Institutional investors collectively own 83.64% of the stock.
• Intuitive Surgical reported quarterly EPS of $3.00, above the $2.65 consensus, and revenue of $3.05 billion, up 21.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $493.54; recent targets ranged from $475 to $550.

Capital Investment Services of America Inc. acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,207 shares of the medical equipment provider's stock, valued at approximately $12,283,000.

A number of other hedge funds also recently made changes to their positions in ISRG. Bank of America Corp DE lifted its holdings in Intuitive Surgical by 3.3% during the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider's stock worth $1,667,388,000 after acquiring an additional 116,292 shares during the period. Bank of New York Mellon Corp purchased a new position in Intuitive Surgical in the second quarter worth $1,335,753,000. Amundi grew its stake in Intuitive Surgical by 8.6% in the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider's stock valued at $1,119,448,000 after purchasing an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock valued at $970,635,000 after purchasing an additional 1,027,475 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Intuitive Surgical by 10.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider's stock valued at $769,948,000 after purchasing an additional 184,044 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Craig Barratt sold 1,150 shares of Intuitive Surgical stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total value of $510,370.00. Following the completion of the transaction, the director owned 1,150 shares of the company's stock, valued at approximately $510,370. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, Director Amy Ladd sold 400 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the transaction, the director directly owned 251 shares in the company, valued at approximately $95,129. The trade was a 61.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,778 shares of company stock valued at $16,814,967 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $482.10 on Thursday. The stock has a market cap of $167.12 billion, a P/E ratio of 49.41, a P/E/G ratio of 3.04 and a beta of 1.45. Intuitive Surgical, Inc. has a one year low of $328.57 and a one year high of $603.88. The stock's fifty day moving average is $406.25 and its 200 day moving average is $432.60.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.65 by $0.35. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The company's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 EPS. Analysts predict that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Wall Street Analyst Weigh In

ISRG has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Intuitive Surgical from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 21st. Barclays reiterated an "overweight" rating and issued a $500.00 target price (up from $485.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. Wells Fargo & Company reissued an "overweight" rating and issued a $486.00 price target (down from $487.00) on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Robert W. Baird upped their price target on shares of Intuitive Surgical from $513.00 to $550.00 and gave the company an "outperform" rating in a research note on Wednesday, October 21st. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $493.54.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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