J. Safra Sarasin Holding AG Increases Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Intuitive Surgical by 173.4% during the second quarter, owning 44,330 shares valued at approximately $24 million.
• Multiple hedge funds have significantly changed their positions in Intuitive Surgical, reflecting 83.64% institutional ownership among the stock.
• Analysts have raised price targets for Intuitive Surgical, with a consensus target now standing at $594.19, indicating a favorable market outlook.

J. Safra Sarasin Holding AG raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 173.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,330 shares of the medical equipment provider's stock after acquiring an additional 28,114 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Intuitive Surgical were worth $24,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC lifted its stake in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical in the first quarter worth $26,000. LFA Lugano Financial Advisors SA bought a new stake in Intuitive Surgical during the first quarter valued at $30,000. TD Capital Management LLC grew its position in Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after buying an additional 45 shares in the last quarter. Finally, 1248 Management LLC bought a new position in Intuitive Surgical in the 1st quarter worth about $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy L. Ladd sold 336 shares of Intuitive Surgical stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director directly owned 1,074 shares of the company's stock, valued at approximately $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ISRG. Evercore ISI lifted their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. UBS Group boosted their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group dropped their price objective on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus price target of $594.19.

Intuitive Surgical Trading Down 2.1%

Shares of ISRG opened at $438.04 on Thursday. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market capitalization of $157.03 billion, a price-to-earnings ratio of 61.09, a PEG ratio of 4.69 and a beta of 1.61. The firm's 50-day moving average price is $465.33 and its 200-day moving average price is $500.54.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the firm posted $1.78 EPS. The business's revenue was up 21.4% on a year-over-year basis. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Intuitive Surgical 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.

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