Eversept Partners LP Buys 3,636 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Eversept Partners LP increased its stake in Intuitive Surgical by 25.2% in the fourth quarter, buying 3,636 additional shares for a total of 18,062 shares valued at about $10.23 million.
• Several other institutional investors also boosted their positions, and institutions now own 83.64% of Intuitive Surgical’s stock, showing continued heavy Wall Street ownership.
• Intuitive Surgical recently reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both ahead of analyst expectations, even as the stock traded down 3.6% on the day.

Eversept Partners LP increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,062 shares of the medical equipment provider's stock after purchasing an additional 3,636 shares during the quarter. Eversept Partners LP's holdings in Intuitive Surgical were worth $10,230,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Draper Asset Management LLC increased its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock valued at $2,848,000 after purchasing an additional 1,485 shares during the last quarter. Deutsche Bank AG grew its position in Intuitive Surgical by 9.6% in the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock valued at $862,108,000 after acquiring an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock valued at $40,255,000 after acquiring an additional 16,119 shares during the last quarter. Procyon Advisors LLC grew its position in Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock valued at $2,715,000 after acquiring an additional 4,254 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Intuitive Surgical by 22.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider's stock valued at $5,127,000 after acquiring an additional 2,102 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the sale, the director owned 120 shares of the company's stock, valued at $55,620. This represents a 49.79% 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. In the last ninety days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ISRG shares. JPMorgan Chase & Co. cut their price objective on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. BTIG Research reaffirmed a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Finally, UBS Group cut their price objective on Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $573.42.

Intuitive Surgical Trading Down 3.6%

Shares of ISRG stock opened at $402.18 on Thursday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The stock has a market capitalization of $142.44 billion, a price-to-earnings ratio of 48.75, a P/E/G ratio of 3.39 and a beta of 1.46. The stock has a fifty day simple moving average of $440.46 and a two-hundred day simple moving average of $492.22.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the business earned $1.81 EPS. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. Research analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

About Intuitive Surgical

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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