Intuitive Surgical, Inc. $ISRG Shares Bought by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its Intuitive Surgical position by 10.2% in the second quarter, acquiring 25,047 additional shares and bringing its holdings to 269,580 shares valued at approximately $107.2 million. Institutional investors collectively own 83.64% of the company.
• Analyst sentiment remains positive, with 22 Buy ratings, eight Holds and one Sell. The stock has a consensus rating of “Moderate Buy” and an average price target of $508.68, despite some analysts lowering targets and one downgrade to Hold.
• Intuitive Surgical reported quarterly EPS of $2.80, beating estimates of $2.48, while revenue rose 18.4% year over year to $2.89 billion. Shares opened at $369.83, well below their 52-week high of $603.88.

NEOS Investment Management LLC lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 10.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 269,580 shares of the medical equipment provider's stock after acquiring an additional 25,047 shares during the period. NEOS Investment Management LLC owned 0.08% of Intuitive Surgical worth $107,207,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ISRG. AXQ Capital LP raised its holdings in shares of Intuitive Surgical by 301.1% during the second quarter. AXQ Capital LP now owns 15,239 shares of the medical equipment provider's stock valued at $6,060,000 after buying an additional 11,440 shares during the last quarter. Alamar Capital Management LLC grew its holdings in Intuitive Surgical by 22.3% in the 2nd quarter. Alamar Capital Management LLC now owns 4,358 shares of the medical equipment provider's stock worth $1,733,000 after buying an additional 795 shares in the last quarter. Nykredit A S acquired a new stake in Intuitive Surgical in the 2nd quarter valued at approximately $55,893,000. B. Metzler seel. Sohn & Co. AG increased its position in Intuitive Surgical by 14.6% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 18,841 shares of the medical equipment provider's stock valued at $7,493,000 after acquiring an additional 2,398 shares during the period. Finally, Sunburst Financial Group LLC raised its stake in Intuitive Surgical by 5.7% during the 2nd quarter. Sunburst Financial Group LLC now owns 574 shares of the medical equipment provider's stock valued at $228,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ISRG shares. Robert W. Baird reduced their price target on Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Bank of America lowered their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. UBS Group initiated coverage on shares of Intuitive Surgical in a research note on Tuesday, July 28th. They set a "neutral" rating and a $500.00 price objective on the stock. Oppenheimer raised shares of Intuitive Surgical from a "market perform" rating to an "outperform" rating and set a $500.00 price objective for the company in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Twenty-two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $508.68.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $400.00, for a total value of $4,000,000.00. Following the completion of the sale, the director directly owned 1,245,679 shares of the company's stock, valued at approximately $498,271,600. This represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the transaction, the executive vice president owned 5,320 shares of the company's stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,658 shares of company stock valued at $4,649,835 in the last three months. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $369.83 on Friday. The stock has a fifty day moving average price of $382.20 and a two-hundred day moving average price of $429.04. The firm has a market cap of $130.65 billion, a P/E ratio of 42.36, a PEG ratio of 2.81 and a beta of 1.47. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

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

Intuitive Surgical Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source