Element Capital Management LLC Takes $2.65 Million Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Element Capital Management LLC acquired 5,357 shares of Intuitive Surgical, Inc. valued at approximately $2.65 million in the first quarter, reflecting growing institutional interest in the company.
• Several analysts have recently updated their price targets for Intuitive Surgical, with consensus ratings showing a mix of buy, hold, and sell ratings, along with an average price target of $595.95.
• Intuitive Surgical reported earnings that exceeded expectations with a 21.4% increase in revenue year-over-year, highlighting strong financial performance despite mixed analyst sentiments.

Element Capital Management LLC acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,357 shares of the medical equipment provider's stock, valued at approximately $2,653,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Parvin Asset Management LLC purchased a new stake in Intuitive Surgical during the fourth quarter valued at about $26,000. Chilton Capital Management LLC raised its position in Intuitive Surgical by 614.3% during the first 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 in the last quarter. Global Financial Private Client LLC raised its position in Intuitive Surgical by 253.3% during the first 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 in the last quarter. Elite Financial Inc. purchased a new stake in Intuitive Surgical during the first quarter valued at about $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Intuitive Surgical during the first quarter valued at about $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ISRG shares. Royal Bank Of Canada restated an "outperform" rating and set a $615.00 price target on shares of Intuitive Surgical in a research report on Tuesday. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI lifted their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Truist Financial lifted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird decreased their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Price Performance

NASDAQ ISRG traded up $2.7870 during mid-day trading on Wednesday, reaching $481.9870. The stock had a trading volume of 898,977 shares, compared to its average volume of 1,985,734. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The stock has a market cap of $172.78 billion, a PE ratio of 67.26, a price-to-earnings-growth ratio of 5.04 and a beta of 1.59. The company has a fifty day moving average price of $506.84 and a 200 day moving average price of $523.82.

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

Insider Buying and Selling

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the completion of the sale, the insider directly owned 13,187 shares in the company, valued at approximately $6,575,565.68. The trade was a 37.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock worth $7,896,972 in the last three months. Insiders own 0.70% of the company's stock.

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.