Defender Capital LLC. Purchases 8,833 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Defender Capital significantly increased its Intuitive Surgical stake by 8,833 shares, or 1,386.7%, during the second quarter, bringing its total to 9,470 shares valued at approximately $3.77 million.
• Intuitive Surgical reported a strong quarter, with earnings of $2.80 per share and revenue of $2.89 billion, exceeding analyst estimates; revenue rose 18.4% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $509.02 price target, although company insiders sold 6,634 shares worth about $2.77 million over the past 90 days.

Defender Capital LLC. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1,386.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,470 shares of the medical equipment provider's stock after acquiring an additional 8,833 shares during the period. Intuitive Surgical comprises 1.2% of Defender Capital LLC.'s holdings, making the stock its 15th largest holding. Defender Capital LLC.'s holdings in Intuitive Surgical were worth $3,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ISRG. Harrell Investment Partners LLC raised its position in Intuitive Surgical by 1.9% during the second quarter. Harrell Investment Partners LLC now owns 1,945 shares of the medical equipment provider's stock valued at $773,000 after purchasing an additional 36 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Intuitive Surgical by 6.7% during the second quarter. Focus Financial Network Inc. now owns 1,473 shares of the medical equipment provider's stock worth $586,000 after purchasing an additional 92 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of Intuitive Surgical by 2.0% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,981 shares of the medical equipment provider's stock valued at $1,185,000 after purchasing an additional 58 shares in the last quarter. Birchbrook Inc. boosted its holdings in shares of Intuitive Surgical by 19.7% in the 2nd quarter. Birchbrook Inc. now owns 2,003 shares of the medical equipment provider's stock valued at $797,000 after purchasing an additional 329 shares in the last quarter. Finally, Jacobs & Co. CA bought a new position in shares of Intuitive Surgical in the 2nd quarter valued at $10,356,000. 83.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Iman Jeddi sold 5,625 shares of the company'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 sale, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction 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 sale, the executive vice president owned 5,320 shares of the company's stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,634 shares of company stock worth $2,769,615 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Price Performance

Shares of ISRG opened at $393.38 on Tuesday. The business has a 50-day moving average of $392.49 and a 200-day moving average of $444.21. The company has a market capitalization of $138.97 billion, a price-to-earnings ratio of 45.06, a price-to-earnings-growth ratio of 2.74 and a beta of 1.47. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ISRG. Weiss Ratings reissued a "hold (c)" rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. BTIG Research reduced their price objective on Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating on the stock in a research note on Friday, July 17th. Mizuho set a $500.00 target price on Intuitive Surgical and gave the company a "neutral" rating in a research report on Wednesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Intuitive Surgical in a research note on Monday, July 20th. Finally, Leerink Partners dropped their target price on shares of Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Twenty research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $509.02.

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source