JGP Global Gestao de Recursos Ltda. Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• JGP Global Gestao de Recursos Ltda. reduced its holdings in Intuitive Surgical, Inc. by 71.0%, selling 1,995 shares and leaving it with 815 shares in the firm’s portfolio, valued at $404,000.
• Several large investors have altered their positions in Intuitive Surgical, with Castleark Management increasing its stake by 3.4% and Longbow Finance growing its holdings by 132.0%.
• Intuitive Surgical recently reported $2.19 EPS for the latest quarter, exceeding consensus estimates of $1.93, with revenue rising by 21.4% year-over-year.

JGP Global Gestao de Recursos Ltda. reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 71.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 815 shares of the medical equipment provider's stock after selling 1,995 shares during the quarter. Intuitive Surgical comprises about 0.3% of JGP Global Gestao de Recursos Ltda.'s investment portfolio, making the stock its 19th biggest position. JGP Global Gestao de Recursos Ltda.'s holdings in Intuitive Surgical were worth $404,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ISRG. Castleark Management LLC raised its position in Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after purchasing an additional 2,990 shares during the period. Arlington Trust Co LLC grew its stake in shares of Intuitive Surgical by 34.5% during the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after acquiring an additional 191 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Intuitive Surgical by 3.2% during the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock valued at $1,243,000 after acquiring an additional 78 shares in the last quarter. Longbow Finance SA grew its stake in shares of Intuitive Surgical by 132.0% during the first quarter. Longbow Finance SA now owns 19,699 shares of the medical equipment provider's stock valued at $9,756,000 after acquiring an additional 11,209 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in shares of Intuitive Surgical during the fourth quarter valued at about $454,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 0.4%

Shares of ISRG stock opened at $483.12 on Monday. The business has a 50 day moving average of $524.01 and a two-hundred day moving average of $532.67. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company has a market cap of $173.19 billion, a P/E ratio of 67.38, a PEG ratio of 5.06 and a beta of 1.59.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their target price for the company from $515.00 to $440.00 in a research note on Monday, June 9th. Citigroup restated a "buy" rating and set a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Piper Sandler restated an "overweight" rating and set a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. UBS Group raised their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average target price of $595.95.

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,903 shares of company stock worth $7,932,778. Company insiders own 0.70% of the company's stock.

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.

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