Evolutionary Tree Capital Management LLC Sells 666 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Evolutionary Tree Capital Management LLC reduced its holdings in Intuitive Surgical, Inc. by 16.3%, selling 666 shares, which now accounts for about 2.0% of their investment portfolio.
• Several institutional investors have increased their stakes in Intuitive Surgical, with notable boosts from ING Groep NV and Allianz SE, reflecting strong interest in the company.
• Analysts have mixed ratings on Intuitive Surgical, with targets ranging from $440 to $599, but the consensus rating remains a "Moderate Buy" with an average target price of $595.95.

Evolutionary Tree Capital Management LLC reduced its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,429 shares of the medical equipment provider's stock after selling 666 shares during the quarter. Intuitive Surgical accounts for about 2.0% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Evolutionary Tree Capital Management LLC's holdings in Intuitive Surgical were worth $1,698,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. ING Groep NV increased its holdings in shares of Intuitive Surgical by 79.8% in the first quarter. ING Groep NV now owns 97,442 shares of the medical equipment provider's stock worth $48,260,000 after acquiring an additional 43,248 shares in the last quarter. Earned Wealth Advisors LLC bought a new stake in shares of Intuitive Surgical in the first quarter worth about $219,000. SGL Investment Advisors Inc. boosted its position in shares of Intuitive Surgical by 73.7% during the first quarter. SGL Investment Advisors Inc. now owns 712 shares of the medical equipment provider's stock worth $383,000 after buying an additional 302 shares during the period. Allianz SE boosted its position in shares of Intuitive Surgical by 437.4% during the first quarter. Allianz SE now owns 17,365 shares of the medical equipment provider's stock worth $8,600,000 after buying an additional 14,134 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Intuitive Surgical by 1.8% during the first quarter. Commonwealth Equity Services LLC now owns 75,504 shares of the medical equipment provider's stock worth $37,395,000 after buying an additional 1,364 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ISRG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Wells Fargo & Company upped their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Robert W. Baird reduced their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. UBS Group increased their price target on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value 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 trade represents a 19.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 2,800 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the completion of the sale, the insider directly owned 18,520 shares in the company, valued at approximately $9,171,844.80. This represents a 13.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,903 shares of company stock valued at $7,932,778. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Up 0.4%

Shares of NASDAQ ISRG opened at $483.12 on Monday. The business's 50 day moving average is $524.01 and its 200-day moving average is $532.67. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market cap of $173.19 billion, a P/E ratio of 67.38, a price-to-earnings-growth ratio of 5.06 and a beta of 1.59.

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

Intuitive Surgical 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.

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