Gradient Investments LLC Buys 10,988 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Gradient Investments increased its Intuitive Surgical stake by 30% in the second quarter, purchasing 10,988 additional shares and bringing its holdings to 47,640 shares valued at approximately $18.9 million. Institutional investors collectively own 83.64% of the company.
• Analysts maintain a generally positive outlook, with 20 Buy ratings, eight Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $509.02, despite several recent target-price reductions.
• Intuitive Surgical reported strong quarterly results, with earnings of $2.80 per share and revenue of $2.89 billion, exceeding estimates and representing 18.4% year-over-year revenue growth. Shares opened at $378.81, while company insiders sold 6,634 shares worth about $2.8 million over the past 90 days.

Gradient Investments LLC boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 30.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,640 shares of the medical equipment provider's stock after purchasing an additional 10,988 shares during the period. Gradient Investments LLC's holdings in Intuitive Surgical were worth $18,945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after acquiring an additional 34 shares during the period. Schnieders Capital Management LLC. raised its stake in shares of Intuitive Surgical by 38.0% during the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after acquiring an additional 268 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Intuitive Surgical during the second quarter valued at about $200,000. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after purchasing an additional 1,407 shares during the period. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ISRG. The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a report on Wednesday, May 27th. Raymond James Financial reiterated an "outperform" rating and issued a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Royal Bank Of Canada reduced their target price on Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $487.00 target price (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $509.02.

Intuitive Surgical Stock Up 1.4%

Shares of ISRG opened at $378.81 on Friday. The business's 50 day moving average price is $392.87 and its 200-day moving average price is $445.78. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock has a market cap of $133.83 billion, a P/E ratio of 43.39, a P/E/G ratio of 2.70 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the company earned $1.81 EPS. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company's stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,634 shares of company stock valued at $2,796,795 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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