Forte Capital LLC ADV Sells 1,064 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Forte Capital LLC ADV reduced its stake in Intuitive Surgical, Inc. by 3.0%, selling 1,064 shares and now holding 34,582 shares valued at approximately $18.79 million.
• Several institutional investors, including Nuveen LLC and Goldman Sachs, have either increased their positions or initiated new stakes in Intuitive Surgical, contributing to a total institutional ownership of 83.64%.
• Intuitive Surgical recently reported earnings of $2.19 per share, exceeding analyst expectations, with a revenue increase of 21.4% year-over-year, bringing total revenue to $2.44 billion for the quarter.

Forte Capital LLC ADV lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,582 shares of the medical equipment provider's stock after selling 1,064 shares during the period. Intuitive Surgical accounts for about 2.0% of Forte Capital LLC ADV's holdings, making the stock its 14th biggest position. Forte Capital LLC ADV's holdings in Intuitive Surgical were worth $18,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ISRG. Nuveen LLC bought a new position in Intuitive Surgical in the first quarter worth approximately $1,715,899,000. GAMMA Investing LLC lifted its holdings in shares of Intuitive Surgical by 54,010.7% in the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock valued at $14,999,630,000 after purchasing an additional 3,022,979 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Intuitive Surgical by 26.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after purchasing an additional 584,375 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Intuitive Surgical by 20.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock valued at $1,680,922,000 after purchasing an additional 566,979 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Intuitive Surgical by 15.0% in the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock valued at $1,732,975,000 after purchasing an additional 457,080 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ISRG shares. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. UBS Group raised their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $615.00 target price on shares of Intuitive Surgical in a report on Tuesday, August 19th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Trading Up 1.3%

ISRG opened at $444.55 on Tuesday. The stock has a 50-day moving average price of $475.20 and a 200-day moving average price of $502.92. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The stock has a market capitalization of $159.36 billion, a P/E ratio of 62.00, a PEG ratio of 4.60 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (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 during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the business earned $1.78 EPS. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Transactions at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The stock was 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 in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy L. Ladd sold 336 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the sale, the director owned 1,074 shares of the company's stock, valued at $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is currently owned by corporate insiders.

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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