IPG Investment Advisors LLC Purchases New Position in Intuitive Surgical, Inc. $ISRG

Key Points

• IPG Investment Advisors LLC opened a new position in Intuitive Surgical during the fourth quarter, buying 2,736 shares valued at about $1.55 million.
• Intuitive Surgical reported better-than-expected Q1 earnings, posting $2.50 EPS versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.
• The stock fell 4.1% to $418.55, while analysts still view it favorably overall with a Moderate Buy consensus and an average price target of $576.71.

IPG Investment Advisors LLC purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,736 shares of the medical equipment provider's stock, valued at approximately $1,550,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ISRG. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. grew its holdings in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in Intuitive Surgical during the 3rd quarter worth approximately $27,000. Olistico Wealth LLC bought a new stake in Intuitive Surgical during the 4th quarter worth approximately $28,000. Finally, Caitlin John LLC bought a new stake in Intuitive Surgical during the 3rd quarter worth approximately $30,000. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Down 4.1%

Intuitive Surgical stock opened at $418.55 on Thursday. Intuitive Surgical, Inc. has a 12-month low of $414.30 and a 12-month high of $603.88. The firm's fifty day moving average is $455.79 and its 200 day moving average is $507.97. The company has a market capitalization of $148.23 billion, a PE ratio of 50.73, a PEG ratio of 3.49 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) 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 company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned $1.81 EPS. Intuitive Surgical's quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director owned 239 shares in the company, valued at $113,156.94. The trade was a 67.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the transaction, the senior vice president owned 3,554 shares in the company, valued at approximately $1,772,308.72. The trade was a 39.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,701 shares of company stock worth $2,783,807 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ISRG. Robert W. Baird boosted their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Raymond James Financial reduced their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective on the stock in a research note on Wednesday, March 11th. Leerink Partners reduced their price objective on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. Finally, Piper Sandler reduced their price objective on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell 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 $576.71.

Intuitive Surgical Company 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.

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