Jag Capital Management LLC Takes $18.77 Million Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Jag Capital Management opened a new position in Intuitive Surgical, buying 33,144 shares worth about $18.77 million. The stake represents roughly 2.0% of the firm’s portfolio and makes ISRG its 15th-largest holding.
• Wall Street sentiment remains mostly constructive: analysts have given Intuitive Surgical a Moderate Buy rating overall, with an average price target of $579.33. Goldman Sachs recently raised its target to $621, while some firms, including UBS and Mizuho, remain more cautious.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates and revenue rising 23% year over year to $2.77 billion. The stock was trading around $441.58, below its 52-week high of $603.88.

Jag Capital Management LLC acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,144 shares of the medical equipment provider's stock, valued at approximately $18,771,000. Intuitive Surgical accounts for about 2.0% of Jag Capital Management LLC's investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in ISRG. Newbridge Financial Services Group Inc. raised its holdings in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at approximately $25,000. Olistico Wealth LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at approximately $31,000. Finally, Turning Point Benefit Group Inc. raised its holdings in Intuitive Surgical by 833.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock valued at $32,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

ISRG has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Mizuho set a $525.00 target price on shares of Intuitive Surgical and gave the company a "neutral" rating in a report on Monday, April 13th. UBS Group reduced their target price on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a report on Tuesday, March 17th. Finally, Argus reduced their target price on shares of Intuitive Surgical from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, February 4th. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $579.33.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the sale, the executive vice president owned 6,120 shares of the company's stock, valued at approximately $2,735,334. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director directly owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,647 shares of company stock valued at $2,760,359 in the last quarter. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Trading Up 0.4%

ISRG stock opened at $441.58 on Wednesday. Intuitive Surgical, Inc. has a twelve month low of $417.74 and a twelve month high of $603.88. The company's 50 day moving average is $461.52 and its two-hundred day moving average is $512.36. The stock has a market cap of $156.39 billion, a P/E ratio of 53.52, a PEG ratio of 3.51 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping 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 analysts' expectations of $2.62 billion. During the same quarter last year, the company earned $1.81 earnings per share. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

About Intuitive Surgical

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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