Intuitive Surgical, Inc. $ISRG Shares Purchased by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management Inc. significantly increased its stake in Intuitive Surgical by 1,310% in Q2, holding $8.23 million worth of stock after acquiring additional shares during the quarter.
• Institutional investors now own 83.64% of Intuitive Surgical's stock, indicating strong interest from major financial entities.
• Intuitive Surgical's earnings exceeded analysts' expectations, with a reported $2.19 EPS for the last quarter, surpassing the consensus estimate of $1.93.

Contravisory Investment Management Inc. boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1,310.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,143 shares of the medical equipment provider's stock after acquiring an additional 14,069 shares during the period. Intuitive Surgical accounts for 1.6% of Contravisory Investment Management Inc.'s portfolio, making the stock its 29th largest position. Contravisory Investment Management Inc.'s holdings in Intuitive Surgical were worth $8,229,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC boosted its position 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 1st 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 during the last quarter. Elite Financial Inc. acquired a new position in Intuitive Surgical in the 1st quarter valued at about $26,000. LFA Lugano Financial Advisors SA bought a new stake in Intuitive Surgical in the 1st quarter valued at about $30,000. Finally, TD Capital Management LLC lifted its holdings in shares of Intuitive Surgical by 300.0% during the 1st 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. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary S. Guthart sold 29,360 shares of the firm'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 value of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares of the company's stock, valued at $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. 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 ninety days. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

ISRG has been the subject of several analyst reports. UBS Group raised their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial increased their price target on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Evercore ISI increased their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Performance

Shares of ISRG traded up $2.89 during mid-day trading on Friday, hitting $438.72. 3,756,410 shares of the stock were exchanged, compared to its average volume of 2,285,360. The firm has a 50-day moving average of $476.64 and a two-hundred day moving average of $503.68. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The company has a market cap of $157.27 billion, a PE ratio of 61.19, a price-to-earnings-growth ratio of 4.60 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The business's revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical Company Profile

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.