Hodges Capital Management Inc. Lowers Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Hodges Capital Management Inc. reduced its stake in Intuitive Surgical by 12.9%, holding 8,392 shares worth approximately $4.16 million after selling 1,244 shares.
• Analysts have varied opinions on Intuitive Surgical, with a consensus price target of $595.95 and ratings including 13 Buy, 6 Hold, and 1 Sell.
• Intuitive Surgical reported earnings of $2.19 per share, exceeding estimates, with a revenue increase of 21.4% year-over-year to $2.44 billion.

Hodges Capital Management Inc. lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,392 shares of the medical equipment provider's stock after selling 1,244 shares during the period. Hodges Capital Management Inc.'s holdings in Intuitive Surgical were worth $4,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ISRG. Chilton Capital Management LLC lifted its holdings in 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 buying an additional 43 shares during the period. Global Financial Private Client LLC lifted its holdings in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares during the period. Elite Financial Inc. purchased a new stake in Intuitive Surgical during the first quarter worth $26,000. LFA Lugano Financial Advisors SA purchased a new stake in Intuitive Surgical during the first quarter worth $30,000. Finally, TD Capital Management LLC lifted its holdings in Intuitive Surgical by 300.0% during the first 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. Hedge funds and other institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group upped their price target on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $615.00 price target on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Evercore ISI upped their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $595.95.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $455.85 on Friday. The stock's fifty day moving average price is $487.55 and its 200 day moving average price is $509.57. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The company has a market cap of $163.41 billion, a price-to-earnings ratio of 63.58, a PEG ratio of 4.72 and a beta of 1.61.

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

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the company's 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares in the company, valued at approximately $504,898.14. The trade was a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock valued at $21,716,492 in the last ninety days. Company insiders own 0.70% of the company's stock.

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.

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