Evelyn Partners Investment Management LLP Acquires 8,874 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Evelyn Partners Investment Management LLP increased its Intuitive Surgical stake by 16.6% in the first quarter, acquiring 8,874 shares and bringing its holdings to 62,473 shares valued at approximately $28.8 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported strong quarterly results, with earnings of $2.80 per share and revenue of $2.89 billion, exceeding analyst estimates; revenue rose 18.4% year over year.
• ISRG shares opened at $356.83, well below their 52-week high of $603.88. Analysts maintain a “Moderate Buy” consensus with a $519.13 average price target, despite some recent target reductions and insider stock sales.

Evelyn Partners Investment Management LLP increased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,473 shares of the medical equipment provider's stock after purchasing an additional 8,874 shares during the quarter. Evelyn Partners Investment Management LLP's holdings in Intuitive Surgical were worth $28,799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Prosperity Consulting Group LLC grew its stake in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock valued at $1,804,000 after buying an additional 19 shares during the last quarter. Sunburst Financial Group LLC lifted its stake in shares of Intuitive Surgical by 4.3% in the 4th quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider's stock valued at $275,000 after acquiring an additional 20 shares during the last quarter. WoodTrust Financial Corp lifted its stake in shares of Intuitive Surgical by 0.5% in the 4th quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider's stock valued at $2,367,000 after acquiring an additional 20 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Intuitive Surgical by 8.5% during the 4th quarter. North Star Investment Management Corp. now owns 269 shares of the medical equipment provider's stock valued at $152,000 after acquiring an additional 21 shares during the period. Finally, Cornerstone Planning Group LLC boosted its holdings in Intuitive Surgical by 11.5% during the 4th quarter. Cornerstone Planning Group LLC now owns 203 shares of the medical equipment provider's stock valued at $106,000 after acquiring an additional 21 shares during the period. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Price Performance

ISRG stock opened at $356.83 on Tuesday. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88. The firm has a 50-day moving average of $405.22 and a 200 day moving average of $457.57. The company has a market cap of $126.06 billion, a P/E ratio of 40.87, a PEG ratio of 2.44 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.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 previous year, the firm posted $1.81 EPS. The business's revenue was up 18.4% on a year-over-year basis. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ISRG shares. Deutsche Bank Aktiengesellschaft decreased their price target on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a research note on Tuesday, June 2nd. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Evercore set a $430.00 target price on shares of Intuitive Surgical in a research note on Monday, July 6th. BTIG Research lowered their price target on shares of Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating for the company in a report on Friday, July 17th. Finally, Sanford C. Bernstein dropped their price target on shares of Intuitive Surgical from $750.00 to $685.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $519.13.

Insider Activity

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the transaction, the director owned 120 shares of the company's stock, valued at approximately $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% 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. Insiders sold a total of 6,669 shares of company stock worth $2,822,405 in the last quarter. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Company 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.

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