Adage Capital Partners GP L.L.C. Decreases Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Intuitive Surgical by 6.1%, owning approximately 386,487 shares valued at $191.4 million after selling 25,139 shares.
• Analysts have varied ratings on Intuitive Surgical, with 13 analysts rating it as a Buy, a consensus price target of $595.95, and a recent price target increase from Piper Sandler to $595.00.
• Insider sales included CEO Gary S. Guthart selling 7,893 shares for about $3.94 million, which represents a 37.44% decrease in his ownership of the stock.

Adage Capital Partners GP L.L.C. lessened its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 386,487 shares of the medical equipment provider's stock after selling 25,139 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Intuitive Surgical worth $191,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chilton Capital Management LLC increased its position in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the period. Global Financial Private Client LLC increased its position in Intuitive Surgical by 253.3% during the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 38 shares during the period. Elite Financial Inc. acquired a new stake in Intuitive Surgical during the 1st quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA acquired a new stake in Intuitive Surgical during the 1st quarter valued at approximately $30,000. Finally, TD Capital Management LLC increased its position in Intuitive Surgical by 300.0% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Trading Up 3.0%

Shares of ISRG traded up $13.34 during trading hours on Thursday, reaching $454.52. The stock had a trading volume of 3,938,868 shares, compared to its average volume of 1,868,338. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The firm has a 50-day simple moving average of $495.33 and a 200 day simple moving average of $514.32. The company has a market capitalization of $162.94 billion, a price-to-earnings ratio of 63.39, a P/E/G ratio of 4.62 and a beta of 1.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the business earned $1.78 EPS. Intuitive Surgical's quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This trade represents 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 the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,440 shares of company stock valued at $21,838,124 in the last 90 days. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on ISRG shares. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Truist Financial raised their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" 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. Finally, Evercore ISI raised their price objective on shares of 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 research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $595.95.

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.