Intuitive Surgical, Inc. $ISRG Shares Sold by Traynor Capital Management Inc.

Key Points

• Traynor Capital Management reduced its Intuitive Surgical stake by 6.9% in the third quarter, selling 4,349 shares and retaining 58,636 shares valued at approximately $23.8 million.
• Institutional ownership remains substantial at 83.64%, while several other firms increased their positions. Analysts maintain a “Moderate Buy” consensus, with an average price target of $493.54.
• Intuitive Surgical reported strong quarterly results, including $3.00 in EPS and $3.05 billion in revenue, beating estimates and representing 21.7% year-over-year revenue growth. Insiders have sold $16.8 million of stock over the past three months under pre-arranged trading plans.

Traynor Capital Management Inc. lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,636 shares of the medical equipment provider's stock after selling 4,349 shares during the quarter. Intuitive Surgical comprises 1.1% of Traynor Capital Management Inc.'s portfolio, making the stock its 17th biggest holding. Traynor Capital Management Inc.'s holdings in Intuitive Surgical were worth $23,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Intuitive Surgical by 1.5% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 701,589 shares of the medical equipment provider's stock valued at $285,499,000 after purchasing an additional 10,170 shares in the last quarter. Greenleaf Trust increased its position in Intuitive Surgical by 4.9% in the third quarter. Greenleaf Trust now owns 8,737 shares of the medical equipment provider's stock worth $3,553,000 after purchasing an additional 408 shares during the last quarter. Nippon Life Global Investors Americas Inc. increased its position in Intuitive Surgical by 20.8% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 4,120 shares of the medical equipment provider's stock worth $1,675,000 after purchasing an additional 710 shares during the last quarter. Columbia Bank raised its stake in Intuitive Surgical by 20.9% during the third quarter. Columbia Bank now owns 3,824 shares of the medical equipment provider's stock valued at $1,555,000 after purchasing an additional 662 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Intuitive Surgical by 10.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider's stock valued at $769,948,000 after purchasing an additional 184,044 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the topic of a number of research reports. Royal Bank Of Canada reduced their target price on shares of Intuitive Surgical from $575.00 to $550.00 and set an "outperform" rating on the stock in a report on Wednesday, October 21st. Erste Group Bank raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Wednesday, October 21st. Raymond James Financial reiterated an "outperform" rating and issued a $480.00 price target on shares of Intuitive Surgical in a research report on Wednesday, October 21st. KeyCorp reissued an "overweight" rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Finally, UBS Group reissued a "buy" rating on shares of Intuitive Surgical in a research note on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $493.54.

Insider Activity

In related news, EVP Mark Brosius sold 61 shares of Intuitive Surgical stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $441.60, for a total transaction of $26,937.60. Following the completion of the sale, the executive vice president owned 581 shares in the company, valued at $256,569.60. This trade represents a 9.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the business's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the completion of the sale, the director directly owned 1,204,530 shares of the company's stock, valued at approximately $543,977,793.30. This trade represents a 1.64% 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 38,778 shares of company stock valued at $16,814,967. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $432.01 on Monday. The stock has a 50 day moving average price of $401.54 and a 200 day moving average price of $434.05. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88. The firm has a market capitalization of $149.75 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.98 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the company posted $2.40 EPS. Intuitive Surgical's quarterly revenue was up 21.7% on a year-over-year basis. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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