Intuitive Surgical, Inc. $ISRG Position Reduced by Lattice Capital Management LLC

Key Points

• Lattice Capital Management LLC reduced its stake in Intuitive Surgical by 49%, retaining 10,000 shares valued at approximately $5.43 million, making it the fourth largest holding in their portfolio.
• Insider Gary S. Guthart sold 29,360 shares for about $13.87 million, reflecting a 59.69% decrease in his ownership, amidst a broader trend of insiders selling a total of 45,224 shares recently.
• Despite recent sell-offs, analysts maintain a generally positive outlook, with a majority rating the stock as a "Moderate Buy" and setting an average price target of $589.43.

Lattice Capital Management LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 49.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,000 shares of the medical equipment provider's stock after selling 9,600 shares during the quarter. Intuitive Surgical makes up 6.0% of Lattice Capital Management LLC's portfolio, making the stock its 4th biggest holding. Lattice Capital Management LLC's holdings in Intuitive Surgical were worth $5,434,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Chilton Capital Management LLC boosted its position 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 purchasing an additional 43 shares in the last quarter. Elite Financial Inc. acquired a new position in shares of Intuitive Surgical in the first quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Intuitive Surgical in the first quarter worth $30,000. TD Capital Management LLC raised its holdings in shares of Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 45 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in shares of Intuitive Surgical in the first quarter worth $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction dated 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 sale, the executive vice president 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. Insiders sold 45,224 shares of company stock worth $21,716,492 over the last three months. 0.70% of the stock is owned by insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $440.94 on Wednesday. The firm has a market capitalization of $158.07 billion, a PE ratio of 61.50, a P/E/G ratio of 4.71 and a beta of 1.61. 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 12 month low of $425.00 and a 12 month high of $616.00.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI cut their price target on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a report on Tuesday. BTIG Research reissued a "buy" rating and issued a $571.00 price target on shares of Intuitive Surgical in a report on Wednesday, October 1st. Piper Sandler reissued an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a report on Tuesday, August 19th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $589.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.