Empowered Funds LLC Decreases Stock Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Empowered Funds LLC significantly reduced its stake in Intuitive Surgical, Inc. by 59.5%, holding 9,328 shares valued at approximately $4.62 million after selling 13,678 shares in the first quarter.
• Other institutional investors, such as Chilton Capital Management and Global Financial Private Client, increased their positions dramatically by 614.3% and 253.3%, respectively.
• Intuitive Surgical reported a 21.4% year-over-year revenue increase of $2.44 billion for the quarter, along with an earnings per share (EPS) of $2.19, exceeding analyst expectations.

Empowered Funds LLC trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 59.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,328 shares of the medical equipment provider's stock after selling 13,678 shares during the period. Empowered Funds LLC's holdings in Intuitive Surgical were worth $4,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chilton Capital Management LLC increased its position in shares of 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 last quarter. Global Financial Private Client LLC increased its position in shares of 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 last quarter. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical during the 1st quarter valued at about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical during the 1st quarter valued at about $30,000. Finally, TD Capital Management LLC increased its position in shares of 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 last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 1.3%

Intuitive Surgical stock opened at $455.85 on Friday. The firm has a 50 day moving average of $487.55 and a 200 day moving average of $509.57. The firm has a market capitalization of $163.41 billion, a price-to-earnings ratio of 63.58, a P/E/G ratio of 4.72 and a beta of 1.61. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

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

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares of the company's stock, valued at $9,368,059.23. This trade represents a 59.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy L. Ladd sold 335 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director directly owned 739 shares of the company's stock, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock valued at $21,716,492 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ISRG. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $615.00 price target on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued 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.

About Intuitive Surgical

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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