Headlands Technologies LLC Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Headlands Technologies LLC acquired a new stake of 28,923 shares in Intuitive Surgical, Inc. valued at approximately $14.3 million, making it the firm's 7th largest position.
• In the first quarter, hedge funds and institutional investors owned 83.64% of Intuitive Surgical, indicating strong institutional interest in the company.
• EVP Myriam Curet sold 4,500 shares for over $2.2 million, representing a significant decrease in her holdings by 92.73% following the transaction.

Headlands Technologies LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,923 shares of the medical equipment provider's stock, valued at approximately $14,325,000. Intuitive Surgical makes up approximately 1.6% of Headlands Technologies LLC's holdings, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Waycross Partners LLC boosted its stake in shares of Intuitive Surgical by 22.7% during the first quarter. Waycross Partners LLC now owns 50,220 shares of the medical equipment provider's stock valued at $24,872,000 after purchasing an additional 9,277 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Intuitive Surgical by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,385,472 shares of the medical equipment provider's stock valued at $1,181,453,000 after purchasing an additional 67,803 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in Intuitive Surgical in the 1st quarter valued at approximately $12,119,000. Strategy Asset Managers LLC increased its position in Intuitive Surgical by 38.5% in the 1st quarter. Strategy Asset Managers LLC now owns 4,483 shares of the medical equipment provider's stock valued at $2,220,000 after acquiring an additional 1,247 shares during the period. Finally, Hemington Wealth Management increased its position in Intuitive Surgical by 1.7% in the 1st quarter. Hemington Wealth Management now owns 2,122 shares of the medical equipment provider's stock valued at $1,050,000 after acquiring an additional 35 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on ISRG shares. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI increased 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 report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, BTIG Research lifted their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded up $0.27 during trading hours on Friday, reaching $470.08. The company's stock had a trading volume of 1,445,546 shares, compared to its average volume of 2,319,941. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company has a market capitalization of $168.51 billion, a P/E ratio of 65.56, a P/E/G ratio of 4.92 and a beta of 1.59. The stock's fifty day simple moving average is $516.52 and its two-hundred day simple moving average is $529.35.

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

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $498.64, for a total value of $3,935,765.52. Following the transaction, the insider directly owned 13,187 shares of the company's stock, valued at approximately $6,575,565.68. This trade represents a 37.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,903 shares of company stock valued at $7,932,778. Corporate insiders own 0.70% of the company's stock.

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.