Corient Private Wealth LLC Raises Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Corient Private Wealth LLC increased its Intuitive Surgical stake by 62% in the fourth quarter, buying 199,659 additional shares and bringing its total holding to 521,442 shares worth about $295.3 million.
• Insider selling continued during the quarter, with EVP Gary Loeb and SVP Iman Jeddi both selling shares under pre-arranged Rule 10b5-1 plans; insiders sold a total of 7,169 shares valued at about $3.06 million.
• Intuitive Surgical recently beat earnings expectations, posting $2.50 EPS on revenue of $2.77 billion, while Wall Street remains broadly positive with an average rating of Moderate Buy and a mean target price of $573.42.

Corient Private Wealth LLC lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 62.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 521,442 shares of the medical equipment provider's stock after buying an additional 199,659 shares during the period. Corient Private Wealth LLC owned approximately 0.15% of Intuitive Surgical worth $295,324,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Draper Asset Management LLC increased its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock valued at $2,848,000 after purchasing an additional 1,485 shares during the last quarter. Deutsche Bank AG raised its holdings in Intuitive Surgical by 9.6% during the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock valued at $862,108,000 after buying an additional 132,966 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Intuitive Surgical by 29.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock worth $40,255,000 after buying an additional 16,119 shares during the last quarter. Procyon Advisors LLC boosted its stake in Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock worth $2,715,000 after buying an additional 4,254 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Intuitive Surgical by 22.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider's stock worth $5,127,000 after buying an additional 2,102 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares of the company's stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. 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 7,169 shares of company stock valued at $3,059,135 over the last quarter. 0.60% of the stock is owned by corporate insiders.

Intuitive Surgical Price Performance

ISRG stock opened at $406.78 on Friday. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88. The firm's 50-day moving average is $439.54 and its 200 day moving average is $491.05. The company has a market capitalization of $144.07 billion, a PE ratio of 49.31, a P/E/G ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ISRG shares. BTIG Research reissued a "buy" rating and issued a $574.00 target price on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Leerink Partners cut their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a report on Wednesday, April 22nd. UBS Group reduced their price objective on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Finally, The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, May 27th. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $573.42.

Intuitive Surgical Profile

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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