Park Place Capital Corp Lowers Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Park Place Capital Corp cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,479 shares of the medical equipment provider's stock after selling 733 shares during the period. Park Place Capital Corp's holdings in Intuitive Surgical were worth $733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Castleark Management LLC raised its holdings in shares of Intuitive Surgical by 3.4% during the 4th quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock worth $47,221,000 after buying an additional 2,990 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in Intuitive Surgical in the fourth quarter valued at about $454,000. Whalerock Point Partners LLC bought a new position in Intuitive Surgical in the fourth quarter valued at about $209,000. Tounjian Advisory Partners LLC acquired a new position in Intuitive Surgical during the first quarter worth about $5,152,000. Finally, Brighton Jones LLC lifted its holdings in shares of Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 0.1%

Shares of ISRG stock traded down $0.48 during mid-day trading on Friday, reaching $533.71. 2,014,026 shares of the company's stock traded hands, compared to its average volume of 1,673,711. The company's 50-day moving average price is $531.06 and its 200-day moving average price is $536.83. The company has a market cap of $191.29 billion, a P/E ratio of 78.26, a P/E/G ratio of 5.53 and a beta of 1.67. Intuitive Surgical, Inc. has a 12 month low of $413.82 and a 12 month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the company earned $1.50 EPS. Equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Mark Brosius sold 216 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president now directly owns 907 shares of the company's stock, valued at $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the sale, the director now owns 6,371 shares of the company's stock, valued at approximately $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ISRG. Deutsche Bank Aktiengesellschaft cut shares of Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their price objective for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Piper Sandler decreased their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird cut their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Citigroup restated a "buy" rating and set a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus price target of $588.95.

Intuitive Surgical Company Profile

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.