Gagnon Securities LLC Sells 2,881 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Gagnon Securities LLC decreased its stake in Intuitive Surgical by 5.1%, selling 2,881 shares, and now holds 53,824 shares valued at approximately $29.2 million.
• Intuitive Surgical reported EPS of $2.19 for the last quarter, exceeding analyst expectations of $1.93, with quarterly revenue growing by 21.4% year-over-year to $2.44 billion.
• Insider transactions showed significant sales, with two executives selling over 34,000 shares combined in recent months, indicating a shift in ownership among key stakeholders.

Gagnon Securities LLC lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,824 shares of the medical equipment provider's stock after selling 2,881 shares during the period. Intuitive Surgical makes up about 5.9% of Gagnon Securities LLC's investment portfolio, making the stock its 4th biggest position. Gagnon Securities LLC's holdings in Intuitive Surgical were worth $29,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Chilton Capital Management LLC boosted its holdings in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Elite Financial Inc. purchased a new position in shares of Intuitive Surgical in the 1st quarter worth $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Intuitive Surgical in the 1st quarter worth $30,000. TD Capital Management LLC raised its position in shares of Intuitive Surgical by 300.0% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after buying an additional 45 shares during the period. Finally, 1248 Management LLC purchased a new position in shares of Intuitive Surgical in the 1st quarter worth $30,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Down 1.9%

Shares of ISRG stock opened at $440.94 on Wednesday. The business has a 50 day moving average of $461.55 and a two-hundred day moving average of $499.41. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company has a market cap of $158.07 billion, a P/E ratio of 61.50, a PEG ratio of 4.71 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. Intuitive Surgical's quarterly revenue was up 21.4% compared to the same quarter last year. Analysts expect 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 Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

ISRG has been the topic of several research reports. The Goldman Sachs Group cut their price objective on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a research report on Wednesday, October 1st. BTIG Research reissued a "buy" rating and issued a $571.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Truist Financial lifted their target price on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $589.43.

Intuitive Surgical Company 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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