Intuitive Surgical, Inc. (NASDAQ:ISRG) Stake Lowered by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC reduced its stake in Intuitive Surgical by 4.2%, selling 2,456 shares, and now holds 56,705 shares valued at approximately $28 million.
• Several hedge funds have increased their positions significantly in Intuitive Surgical, with GAMMA Investing LLC growing its stake by an astonishing 54,010.7% in the first quarter.
• Intuitive Surgical reported strong earnings, with a EPS of $2.19, surpassing forecasts, while the company maintains a consensus rating of "Moderate Buy" from analysts.

Gagnon Securities LLC trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 56,705 shares of the medical equipment provider's stock after selling 2,456 shares during the quarter. Intuitive Surgical comprises approximately 6.2% of Gagnon Securities LLC's portfolio, making the stock its 3rd biggest position. Gagnon Securities LLC's holdings in Intuitive Surgical were worth $28,084,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. AlphaCore Capital LLC increased its holdings in Intuitive Surgical by 4.2% in the 4th quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider's stock worth $235,000 after buying an additional 18 shares in the last quarter. Accredited Investors Inc. grew its stake in shares of Intuitive Surgical by 1.9% during the 4th quarter. Accredited Investors Inc. now owns 1,040 shares of the medical equipment provider's stock valued at $543,000 after purchasing an additional 19 shares during the period. Second Line Capital LLC grew its stake in shares of Intuitive Surgical by 3.4% during the 4th quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider's stock valued at $302,000 after purchasing an additional 19 shares during the period. Colonial Trust Co SC grew its stake in shares of Intuitive Surgical by 8.8% during the 4th quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider's stock valued at $128,000 after purchasing an additional 20 shares during the period. Finally, Crown Wealth Group LLC grew its stake in shares of Intuitive Surgical by 4.8% during the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock valued at $218,000 after purchasing an additional 20 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Performance

Shares of ISRG traded up $0.27 during mid-day trading on Friday, hitting $470.08. 1,445,546 shares of the stock were exchanged, compared to its average volume of 2,319,941. The company has a market cap of $168.51 billion, a PE ratio of 65.56, a price-to-earnings-growth ratio of 4.93 and a beta of 1.59. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The firm has a 50-day moving average of $516.52 and a two-hundred day moving average of $528.79.

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

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The stock was 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 in the company, valued at $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark Brosius sold 216 shares of the 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 completion of the sale, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. The trade was a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,903 shares of company stock worth $7,932,778 over the last quarter. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ISRG. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Piper Sandler restated an "overweight" rating and set a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group boosted their price objective on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $595.95.

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.