Defender Capital LLC. Boosts Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Defender Capital increased its Intuitive Surgical stake by 75.7% in the third quarter, bringing its holdings to 16,640 shares worth approximately $6.8 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly earnings of $2.80 per share, beating estimates of $2.48, while revenue rose 18.4% year over year to $2.89 billion.
• Shares recently traded down 1.3% to $401.24, while analysts maintained a “Moderate Buy” consensus with an average price target of $508.68; insiders sold about $4.9 million in stock during the quarter.

Defender Capital LLC. boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 75.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,640 shares of the medical equipment provider's stock after purchasing an additional 7,170 shares during the period. Intuitive Surgical comprises approximately 2.1% of Defender Capital LLC.'s portfolio, making the stock its 13th biggest holding. Defender Capital LLC.'s holdings in Intuitive Surgical were worth $6,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alteri Wealth LLC lifted its position in shares of Intuitive Surgical by 5.0% during the 4th quarter. Alteri Wealth LLC now owns 483 shares of the medical equipment provider's stock valued at $274,000 after buying an additional 23 shares during the last quarter. Connecticut Wealth Management LLC lifted its holdings in Intuitive Surgical by 1.8% during the fourth quarter. Connecticut Wealth Management LLC now owns 1,308 shares of the medical equipment provider's stock valued at $741,000 after purchasing an additional 23 shares during the last quarter. 3Chopt Investment Partners LLC increased its stake in shares of Intuitive Surgical by 5.2% in the first quarter. 3Chopt Investment Partners LLC now owns 462 shares of the medical equipment provider's stock worth $213,000 after purchasing an additional 23 shares in the last quarter. Vermillion Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 25 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Intuitive Surgical by 1.0% in the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 2,542 shares of the medical equipment provider's stock valued at $1,172,000 after purchasing an additional 25 shares during the period. 83.64% of the stock is owned by institutional investors.

Insider Transactions at Intuitive Surgical

In related news, EVP Mark Brosius sold 77 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total value of $28,918.89. Following the sale, the executive vice president owned 881 shares in the company, valued at approximately $330,877.17. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary Guthart sold 10,000 shares of Intuitive Surgical stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $400.00, for a total value of $4,000,000.00. Following the sale, the director directly owned 1,245,679 shares of the company's stock, valued at $498,271,600. This represents a 0.80% 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. In the last quarter, insiders have sold 12,370 shares of company stock valued at $4,891,989. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Down 1.3%

NASDAQ:ISRG traded down $5.39 during mid-day trading on Thursday, hitting $401.24. 1,510,983 shares of the stock traded hands, compared to its average volume of 2,437,212. The business's 50-day moving average price is $378.15 and its 200 day moving average price is $414.26. The company has a market cap of $141.75 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 3.11 and a beta of 1.47. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88.

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

Analyst Ratings Changes

A number of analysts recently commented on ISRG shares. JPMorgan Chase & Co. dropped their price target on shares of Intuitive Surgical from $550.00 to $450.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. BTIG Research reissued a "buy" rating and set a $469.00 target price on shares of Intuitive Surgical in a report on Tuesday, September 8th. Stifel Nicolaus dropped their target price on Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. Evercore set a $430.00 price target on Intuitive Surgical in a report on Monday, July 6th. Finally, Robert W. Baird cut their price target on Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $508.68.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company's products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.

Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.

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