Caxton Associates LLP Invests $780,000 in Intuitive Surgical, Inc. $ISRG

Key Points

• Caxton Associates LLP acquired a new position in Intuitive Surgical, investing approximately $780,000 for 1,575 shares during the first quarter.
• Major institutional investors, including Castleark Management and Arlington Trust Co, have significantly increased their stakes in Intuitive Surgical, indicating strong institutional interest in the company.
• Despite reporting a 21.4% year-over-year revenue increase and better-than-expected earnings, Intuitive Surgical's stock recently decreased by 3.8%.

Caxton Associates LLP acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,575 shares of the medical equipment provider's stock, valued at approximately $780,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ISRG. 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 valued at $25,000 after acquiring an additional 43 shares during the period. Global Financial Private Client LLC raised its stake in shares of Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the first quarter valued at $26,000. LFA Lugano Financial Advisors SA bought a new position in Intuitive Surgical during the first quarter valued at about $30,000. Finally, TD Capital Management LLC grew its holdings in 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 acquiring an additional 45 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the transaction, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,224 shares of company stock valued at $21,716,492 over the last 90 days. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG traded down $6.17 during trading hours on Friday, hitting $449.68. The stock had a trading volume of 2,218,377 shares, compared to its average volume of 2,114,573. The firm's 50-day moving average price is $485.67 and its two-hundred day moving average price is $508.71. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company has a market capitalization of $161.20 billion, a P/E ratio of 62.72, a P/E/G ratio of 4.78 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Evercore ISI raised their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Truist Financial increased their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.