Intuitive Surgical, Inc. $ISRG Stock: Choreo LLC Trims Position

Key Points

• Choreo LLC reduced its Intuitive Surgical position by 23.2% in the third quarter, selling 2,426 shares and retaining 8,009 shares valued at approximately $3.26 million. Institutional investors own 83.64% of the stock.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $493.54. Recent targets include $500 from Oppenheimer and Barclays, while RBC lowered its target to $550.
• Intuitive Surgical reported strong quarterly results, with revenue rising 21.7% year over year to $3.05 billion and EPS of $3.00, exceeding estimates of $2.65. However, insiders sold approximately $16.8 million of stock over the past 90 days.

Choreo LLC trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 23.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,009 shares of the medical equipment provider's stock after selling 2,426 shares during the quarter. Choreo LLC's holdings in Intuitive Surgical were worth $3,257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Main Street Group LTD purchased a new stake in Intuitive Surgical in the 1st quarter valued at about $30,000. North Point Portfolio Managers Corp OH bought a new position in Intuitive Surgical in the 3rd quarter worth about $27,000. John Boyer Inc. purchased a new position in shares of Intuitive Surgical during the third quarter worth approximately $27,000. Compass Wealth Management LLC bought a new position in Intuitive Surgical in the third quarter worth approximately $29,000. Finally, Evergreen Advisors LLC bought a new position in Intuitive Surgical in the first quarter worth approximately $35,000. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 target price on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Barclays reiterated an "overweight" rating and set a $500.00 target price (up from $485.00) on shares of Intuitive Surgical 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 research report on Wednesday, October 21st. Finally, Royal Bank Of Canada reduced their price target on shares of Intuitive Surgical from $575.00 to $550.00 and set an "outperform" rating for the company in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $493.54.

Intuitive Surgical Trading Down 3.7%

ISRG opened at $432.01 on Friday. The firm has a market cap of $149.75 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 2.98 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a fifty day moving average price of $401.54 and a 200-day moving average price of $434.05.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The firm had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $2.91 billion. During the same period in the prior year, the business posted $2.40 EPS. The firm's quarterly revenue was up 21.7% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, Director Craig Barratt sold 1,150 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $510,370.00. Following the completion of the sale, the director directly owned 1,150 shares in the company, valued at approximately $510,370. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the firm's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $453.21, for a total value of $1,834,140.87. Following the completion of the sale, the vice president directly owned 1,026 shares of the company's stock, valued at approximately $464,993.46. This represents a 79.78% decrease in their position. 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. Insiders sold a total of 38,778 shares of company stock valued at $16,814,967 in the last 90 days. 0.60% of the stock is owned by insiders.

About Intuitive Surgical

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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