Intuitive Surgical, Inc. $ISRG Shares Sold by Rockport Wealth LLC

Key Points

• Rockport Wealth LLC cut its Intuitive Surgical stake by 8.6% in the fourth quarter, selling 5,378 shares and leaving it with 57,060 shares valued at about $32.3 million.
• Several other institutional investors recently adjusted their positions, while overall institutions and hedge funds own 83.64% of the company’s stock.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both above expectations; analysts remain broadly positive with a Moderate Buy rating and an average target price of $579.33.

Rockport Wealth LLC decreased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,060 shares of the medical equipment provider's stock after selling 5,378 shares during the period. Intuitive Surgical makes up approximately 6.3% of Rockport Wealth LLC's investment portfolio, making the stock its 2nd largest position. Rockport Wealth LLC's holdings in Intuitive Surgical were worth $32,317,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ISRG. Vanguard Group Inc. grew its stake in shares of Intuitive Surgical by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider's stock valued at $15,026,776,000 after buying an additional 263,828 shares during the period. Capital World Investors grew its stake in shares of Intuitive Surgical by 1.5% in the 3rd quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider's stock valued at $3,456,223,000 after buying an additional 116,034 shares during the period. Fisher Asset Management LLC grew its stake in shares of Intuitive Surgical by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock valued at $1,739,475,000 after buying an additional 40,702 shares during the period. Amundi grew its stake in shares of Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock valued at $1,451,362,000 after buying an additional 739,444 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Intuitive Surgical by 11.1% in the 4th quarter. Jennison Associates LLC now owns 3,209,137 shares of the medical equipment provider's stock valued at $1,817,527,000 after buying an additional 321,759 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Insiders Place Their Bets

In other news, EVP Myriam Curet sold 105 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the completion of the sale, the executive vice president owned 6,120 shares in the company, valued at $2,735,334. The trade was a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 5,647 shares of company stock worth $2,760,359. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical Stock Up 4.5%

Shares of ISRG stock opened at $439.92 on Tuesday. Intuitive Surgical, Inc. has a 52 week low of $417.74 and a 52 week high of $603.88. The stock has a market capitalization of $155.80 billion, a PE ratio of 53.32, a P/E/G ratio of 3.36 and a beta of 1.51. The firm has a 50 day moving average of $462.50 and a two-hundred day moving average of $513.03.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business earned $1.81 EPS. The company's revenue was up 23.0% on a year-over-year basis. Analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ISRG. The Goldman Sachs Group increased their price target on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays set a $651.00 price target on shares of Intuitive Surgical and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research report on Monday, April 13th. Finally, Argus lowered their price objective on shares of Intuitive Surgical from $630.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, February 4th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $579.33.

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

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.