Concurrent Investment Advisors LLC Increases Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Concurrent Investment Advisors increased its Intuitive Surgical stake by 30.8% in the second quarter, adding 6,043 shares to hold 25,639 shares worth approximately $10.2 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly earnings of $2.80 per share on $2.89 billion in revenue, surpassing estimates and marking 18.4% year-over-year revenue growth. The stock opened at $366.70, well below its 52-week high of $603.88.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $508.68, despite several recent target reductions. Meanwhile, insiders sold 11,658 shares worth $4.65 million over the past 90 days, primarily through pre-arranged trading plans.

Concurrent Investment Advisors LLC increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 30.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,639 shares of the medical equipment provider's stock after purchasing an additional 6,043 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Intuitive Surgical were worth $10,196,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Main Street Group LTD bought a new position in shares of Intuitive Surgical during the 1st quarter worth $30,000. Compass Financial Management LLC bought a new stake in shares of Intuitive Surgical in the second quarter valued at about $30,000. Vermillion Wealth Management Inc. lifted its stake in Intuitive Surgical by 58.1% in the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 25 shares during the period. Motiv8 Investments LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth about $34,000. Finally, Evergreen Advisors LLC purchased a new stake in Intuitive Surgical in the first quarter worth about $35,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Mark Brosius sold 77 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the transaction, the executive vice president directly owned 881 shares of the company's stock, valued at $330,877.17. This trade represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the executive vice president owned 5,320 shares of the company's stock, valued at $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,658 shares of company stock worth $4,649,835 over the last ninety days. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $366.70 on Friday. The company's 50-day simple moving average is $381.44 and its 200-day simple moving average is $428.60. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The stock has a market capitalization of $129.55 billion, a P/E ratio of 42.00, a P/E/G ratio of 2.77 and a beta of 1.47.

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

Analyst Ratings Changes

ISRG has been the topic of a number of research reports. Citigroup cut their target price on shares of Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. BTIG Research lowered their price target on shares of Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating for the company in a research report on Friday, July 17th. Oppenheimer upgraded shares of Intuitive Surgical from a "market perform" rating to an "outperform" rating and set a $500.00 price objective on the stock in a research note on Wednesday, August 12th. BMO Capital Markets reissued an "outperform" rating on shares of Intuitive Surgical in a report on Monday, July 20th. Finally, Robert W. Baird reduced their price objective on shares of Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $508.68.

About Intuitive Surgical

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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