Kayne Anderson Rudnick Investment Management LLC Lowers Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Intuitive Surgical by 6.5%, selling 5,381 shares and owning a total of 77,197 shares valued at approximately $38 million at the end of the first quarter.
• Analysts' ratings for Intuitive Surgical vary, with Piper Sandler setting a new target price of $595, while Zacks cut its rating from "strong-buy" to "hold."
• Intuitive Surgical's recent quarterly earnings report showed a 21.4% revenue increase year-over-year, with reported earnings per share of $2.19, exceeding analysts' expectations of $1.93.

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,197 shares of the medical equipment provider's stock after selling 5,381 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Intuitive Surgical were worth $38,234,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after buying an additional 731 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Intuitive Surgical by 0.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after acquiring an additional 883 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Intuitive Surgical by 14.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 5,530 shares of the medical equipment provider's stock valued at $2,886,000 after acquiring an additional 709 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Intuitive Surgical by 4.3% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 7,775 shares of the medical equipment provider's stock worth $4,058,000 after acquiring an additional 324 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new stake in Intuitive Surgical during the fourth quarter worth about $809,000. Institutional investors own 83.64% of the company's stock.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary S. Guthart sold 7,893 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 13,187 shares of the company's stock, valued at approximately $6,575,565.68. The trade was a 37.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,839 shares of company stock worth $7,896,972. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Truist Financial lifted their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. BTIG Research boosted their price objective on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $615.00 target price on shares of Intuitive Surgical in a report on Tuesday, August 19th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Price Performance

ISRG traded down $0.54 during trading on Friday, hitting $473.30. 1,637,614 shares of the stock traded hands, compared to its average volume of 1,985,863. The business has a 50 day moving average price of $501.17 and a 200 day moving average price of $518.82. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The company has a market cap of $169.67 billion, a price-to-earnings ratio of 66.01, a PEG ratio of 4.94 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released 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 analyst estimates of $2.35 billion. During the same period last year, the firm posted $1.78 earnings per share. Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current 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.