Intuitive Surgical, Inc. $ISRG Shares Sold by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management Inc. reduced its stake in Intuitive Surgical, Inc. by 17.4% during Q2, selling 3,768 shares, now holding 17,892 shares worth approximately $9.72 million.
• Intuitive Surgical reported strong earnings with $2.19 EPS for the latest quarter, exceeding estimates, and year-over-year revenue growth of 21.4%.
• Analysts are optimistic about Intuitive Surgical, with the stock receiving an average rating of "Moderate Buy" and a target price of around $595.95.

Carderock Capital Management Inc. lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 17.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,892 shares of the medical equipment provider's stock after selling 3,768 shares during the period. Intuitive Surgical comprises 2.5% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 9th biggest position. Carderock Capital Management Inc.'s holdings in Intuitive Surgical were worth $9,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Chilton Capital Management LLC increased its stake in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Global Financial Private Client LLC increased its stake in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical during the first quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical during the first quarter worth about $30,000. Finally, TD Capital Management LLC increased its stake in shares of Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 45 shares in 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 other Intuitive Surgical news, Director Amy L. Ladd sold 335 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total value of $147,631.15. Following the sale, the director directly owned 739 shares of the company's stock, valued at approximately $325,669.91. This represents a 31.19% decrease in their position. The sale 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 that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Intuitive Surgical Trading Up 1.3%

ISRG traded up $5.74 during trading hours on Monday, hitting $444.46. 1,624,732 shares of the company's stock were exchanged, compared to its average volume of 2,042,797. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The firm has a 50 day moving average of $476.64 and a 200 day moving average of $503.43. The firm has a market cap of $159.33 billion, a P/E ratio of 61.99, a price-to-earnings-growth 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 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm earned $1.78 EPS. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analyst Ratings Changes

ISRG has been the subject of a number of research reports. BTIG Research boosted their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. UBS Group boosted their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Erste Group Bank restated 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 report on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $595.95.

About Intuitive Surgical

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.