Dark Forest Capital Management LP Acquires 4,304 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Dark Forest Capital Management LP increased its stake in Intuitive Surgical by 120.7%, owning 7,870 shares worth approximately $3.9 million at the end of the quarter after acquiring an additional 4,304 shares.
• Several other institutional investors, including Chilton Capital Management and Global Financial Private Client, also significantly boosted their stakes in Intuitive Surgical during the same period.
• Intuitive Surgical recently reported an EPS of $2.19, beating estimates by $0.26, and experienced a 21.4% year-over-year revenue increase, totaling $2.44 billion for the quarter.

Dark Forest Capital Management LP boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 120.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,870 shares of the medical equipment provider's stock after purchasing an additional 4,304 shares during the quarter. Dark Forest Capital Management LP's holdings in Intuitive Surgical were worth $3,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chilton Capital Management LLC raised its stake in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the period. Global Financial Private Client LLC raised its stake in 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 valued at $26,000 after purchasing an additional 38 shares during the period. Elite Financial Inc. bought a new stake in Intuitive Surgical during the 1st quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA bought a new stake in Intuitive Surgical during the 1st quarter valued at approximately $30,000. Finally, TD Capital Management LLC raised its stake in Intuitive Surgical by 300.0% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 45 shares during the period. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ISRG. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. BTIG Research lifted their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $469.07 on Wednesday. The stock has a market cap of $168.15 billion, a price-to-earnings ratio of 65.42, a price-to-earnings-growth ratio of 4.96 and a beta of 1.61. The stock has a 50 day moving average price of $498.54 and a 200-day moving average price of $515.81. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00.

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

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,769 shares of company stock worth $21,532,536. 0.70% of the stock is currently owned by company insiders.

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.

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