Ethic Inc. Reduces Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Ethic Inc. has reduced its stake in Intuitive Surgical, Inc. by 33.6%, now holding 27,884 shares worth approximately $13.84 million.
• Recent analyst reports show a mixed outlook on the stock, with target prices ranging from $575.00 to $635.00 and a consensus rating of "Moderate Buy."
• Insiders have also been selling shares, with notable sales including Gary S. Guthart and Myriam Curet, who decreased their positions by 37.44% and 92.73% respectively.

Ethic Inc. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 33.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,884 shares of the medical equipment provider's stock after selling 14,138 shares during the quarter. Ethic Inc.'s holdings in Intuitive Surgical were worth $13,840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ISRG. 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. Parvin Asset Management LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth about $26,000. Global Financial Private Client LLC boosted 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 worth $26,000 after purchasing an additional 38 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the 1st quarter worth about $26,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Intuitive Surgical during the 1st quarter valued at about $30,000. Institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction dated 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 sale, the insider owned 13,187 shares of the company's stock, valued at $6,575,565.68. The trade was a 37.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,839 shares of company stock valued at $7,896,972 in the last three months. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Up 0.7%

ISRG traded up $3.18 during trading on Friday, hitting $480.26. The company's stock had a trading volume of 1,436,064 shares, compared to its average volume of 2,169,233. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The firm has a market cap of $172.16 billion, a PE ratio of 66.98, a P/E/G ratio of 5.03 and a beta of 1.59. The business's 50 day simple moving average is $508.75 and its 200-day simple moving average is $524.77.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ISRG. Royal Bank Of Canada raised their target price on Intuitive Surgical from $605.00 to $615.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. BTIG Research upped their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating 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 note on Saturday, July 26th. Wells Fargo & Company boosted their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird cut their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

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.