J. Derek Lewis & Associates Inc. Buys New Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• J. Derek Lewis & Associates opened a new position in Intuitive Surgical during the fourth quarter, buying 5,231 shares valued at about $2.96 million. The stake represents roughly 0.7% of its portfolio.
• Institutional ownership remains heavy, with 83.64% of Intuitive Surgical stock held by institutional investors. Several other funds increased their positions, while insiders have also been selling shares in recent months.
• Analyst sentiment is still constructive: Intuitive Surgical has a “Moderate Buy” consensus rating and an average price target of $573.42. The company also recently beat earnings expectations, reporting $2.50 EPS on revenue of $2.77 billion.

J. Derek Lewis & Associates Inc. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,231 shares of the medical equipment provider's stock, valued at approximately $2,963,000. Intuitive Surgical accounts for about 0.7% of J. Derek Lewis & Associates Inc.'s portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Intuitive Surgical by 24.9% in the 4th 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 period. Sivia Capital Partners LLC raised its holdings in Intuitive Surgical by 3.8% during the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 34 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in Intuitive Surgical by 38.0% during the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Intuitive Surgical in the second quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC lifted its position in Intuitive Surgical by 92.4% in the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after purchasing an additional 1,407 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several research analyst reports. Evercore lowered their price target on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Robert W. Baird raised their target price on Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. HSBC lowered their target price on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Finally, Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target for the company in a report on Wednesday, March 11th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $573.42.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% 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. Over the last ninety days, insiders sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $406.78 on Friday. The stock's fifty day simple moving average is $438.43 and its 200 day simple moving average is $490.46. The stock has a market capitalization of $144.07 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 earnings per share. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

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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