Jackson Square Partners LLC Sells 1,905 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Jackson Square Partners LLC reduced its stake in Intuitive Surgical by 18.6%, now holding 8,331 shares valued at approximately $4.13 million.
• Several institutional investors, including Vanguard Group and Northern Trust Corp, increased their positions in Intuitive Surgical, with Vanguard owning over 32.6 million shares valued at around $16.18 billion.
• Despite strong earnings reports, with an EPS of $2.19 surpassing expectations, the stock has seen fluctuations, currently trading at $474.06, down 0.6%.

Jackson Square Partners LLC lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,331 shares of the medical equipment provider's stock after selling 1,905 shares during the quarter. Jackson Square Partners LLC's holdings in Intuitive Surgical were worth $4,126,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ISRG. Parvin Asset Management LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth $26,000. Chilton Capital Management LLC raised its holdings in Intuitive Surgical by 614.3% in the first 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. Global Financial Private Client LLC raised its holdings in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Elite Financial Inc. bought a new position in Intuitive Surgical in the first quarter worth $26,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Intuitive Surgical in the first quarter worth $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group raised their price target on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Evercore ISI raised their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

Insider Activity

In related news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $498.64, for a total value of $3,935,765.52. Following the sale, the insider directly owned 13,187 shares in the company, valued at $6,575,565.68. This trade represents a 37.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,903 shares of company stock valued at $7,932,778 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Price Performance

Shares of ISRG stock traded up $0.27 during trading hours on Friday, reaching $470.08. 1,445,546 shares of the company traded hands, compared to its average volume of 2,319,941. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The company has a market cap of $168.51 billion, a P/E ratio of 65.56, a P/E/G ratio of 4.93 and a beta of 1.59. The firm has a 50-day moving average price of $516.52 and a 200 day moving average price of $528.79.

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 analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The firm 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 earned $1.78 EPS. The business's quarterly revenue was up 21.4% on a year-over-year basis. Sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

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.