Harfst & Associates Inc. Purchases New Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Harfst & Associates Inc. acquired 1,356 shares of Intuitive Surgical, Inc., valued at approximately $672,000, during the first quarter.
• Intuitive Surgical's recent quarterly earnings revealed an EPS of $2.19, exceeding estimates and a significant 21.4% revenue increase year-over-year.
• Institutional investors now hold 83.64% of Intuitive Surgical's stock, with recent changes in holdings by major firms like Vanguard and Invesco.

Harfst & Associates Inc. purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,356 shares of the medical equipment provider's stock, valued at approximately $672,000.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in Intuitive Surgical in the 1st quarter worth approximately $1,715,899,000. GAMMA Investing LLC raised its holdings in shares of Intuitive Surgical by 54,010.7% during the 1st 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. Capital Research Global Investors raised its holdings in shares of Intuitive Surgical by 25.5% during the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock valued at $1,764,904,000 after purchasing an additional 687,906 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Intuitive Surgical by 26.1% during the 1st 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. Finally, Northern Trust Corp raised its holdings in shares of Intuitive Surgical by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after purchasing an additional 494,496 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Activity

In other news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. The trade was a 19.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,839 shares of company stock worth $7,896,972. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Citigroup restated a "buy" rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. UBS Group raised their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. BTIG Research raised their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI raised their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock traded up $3.18 during trading on Friday, hitting $480.26. 1,436,064 shares of the company's stock traded hands, compared to its average volume of 2,192,612. The firm's fifty day moving average price is $508.75 and its 200 day moving average price is $525.16. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The company has a market cap of $172.16 billion, a PE ratio of 66.98, a PEG ratio of 5.03 and a beta of 1.59.

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

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.