Jag Capital Management LLC Grows Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Jag Capital Management LLC raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 26.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 41,631 shares of the medical equipment provider's stock after purchasing an additional 8,833 shares during the period. Intuitive Surgical accounts for approximately 2.7% of Jag Capital Management LLC's portfolio, making the stock its 11th biggest holding. Jag Capital Management LLC's holdings in Intuitive Surgical were worth $20,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ISRG. Atala Financial Inc purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $25,000. Hurley Capital LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $28,000. Parvin Asset Management LLC purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $26,000. Global Financial Private Client LLC lifted its position in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Intuitive Surgical during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ISRG. Truist Financial reduced their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler cut their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI reduced their target price on shares of Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird reduced their target price on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $588.95.

Insider Activity

In related news, EVP Gary Loeb sold 1,700 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the sale, the executive vice president now directly owns 2,245 shares in the company, valued at approximately $1,152,089.10. This represents a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the sale, the executive vice president now directly owns 5,224 shares of the company's stock, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,998 shares of company stock worth $2,611,577. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG traded down $0.48 during mid-day trading on Friday, reaching $533.71. 2,014,026 shares of the company were exchanged, compared to its average volume of 1,669,756. The firm has a market cap of $191.29 billion, a price-to-earnings ratio of 78.26, a P/E/G ratio of 5.66 and a beta of 1.67. Intuitive Surgical, Inc. has a 1 year low of $413.82 and a 1 year high of $616.00. The firm's 50-day simple moving average is $532.08 and its 200 day simple moving average is $536.75.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.10. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. During the same period in the prior year, the firm earned $1.50 EPS. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

About Intuitive Surgical

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.