Gabelli Funds LLC Sells 18,875 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Gabelli Funds LLC reduced its stake in Intuitive Surgical by 22.3%, selling 18,875 shares and leaving them with 65,690 shares valued at approximately $32.5 million.
• Several institutional investors either decreased or increased their positions in Intuitive Surgical during the first quarter, with hedge funds now owning 83.64% of the company's stock.
• Analysts have generally maintained a positive outlook for Intuitive Surgical, with thirteen "Buy" ratings against one "Sell," indicating a consensus rating of "Moderate Buy" with an average target price of $595.95.

Gabelli Funds LLC reduced its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,690 shares of the medical equipment provider's stock after selling 18,875 shares during the quarter. Gabelli Funds LLC's holdings in Intuitive Surgical were worth $32,534,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after purchasing an additional 453,335 shares during the last quarter. Invesco Ltd. lifted its position in Intuitive Surgical by 1.7% during the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after buying an additional 71,794 shares in the last quarter. Northern Trust Corp grew its holdings in Intuitive Surgical by 0.3% during the 1st quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock worth $1,798,465,000 after acquiring an additional 11,988 shares during the last quarter. Wellington Management Group LLP increased its position in Intuitive Surgical by 15.0% in the 1st 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 acquiring an additional 457,080 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Intuitive Surgical in the 1st quarter valued at about $1,715,899,000. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. BTIG Research increased their price objective on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and set a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Truist Financial lifted their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Trading Up 0.6%

Shares of ISRG stock traded up $2.69 on Thursday, hitting $473.84. 1,548,672 shares of the stock were exchanged, compared to its average volume of 1,988,124. The firm has a market capitalization of $169.86 billion, a P/E ratio of 66.09, a price-to-earnings-growth ratio of 4.94 and a beta of 1.59. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The business has a 50-day moving average of $501.17 and a 200 day moving average of $518.82.

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

Insider Activity

In other news, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the sale, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. 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 stock in a transaction on Monday, July 28th. The stock was sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the transaction, the insider owned 18,520 shares of the company's stock, valued at $9,171,844.80. The trade was a 13.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,839 shares of company stock worth $7,896,972 over the last ninety days. Insiders own 0.70% of the company's stock.

About Intuitive Surgical

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.