Kensico Capital Management Corp Takes Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Kensico Capital Management Corp has acquired 98,400 shares of Intuitive Surgical, valued at approximately $48.7 million, making it the company's 18th largest holding.
• Institutional investors own 83.64% of Intuitive Surgical's shares, with multiple funds increasing their stakes in the company during the last quarter.
• Analysts have raised their price targets for Intuitive Surgical, with an average target price now at $595.95, and a consensus rating of "Moderate Buy."

Kensico Capital Management Corp purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98,400 shares of the medical equipment provider's stock, valued at approximately $48,735,000. Intuitive Surgical makes up approximately 1.1% of Kensico Capital Management Corp's holdings, making the stock its 18th biggest holding.

Other hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC grew its position in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after buying an additional 43 shares in the last quarter. Global Financial Private Client LLC boosted 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 during the period. Elite Financial Inc. acquired a new position in Intuitive Surgical in the first quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new position in Intuitive Surgical in the first quarter worth $30,000. Finally, TD Capital Management LLC boosted its holdings in Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ISRG shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $615.00 price objective on shares of Intuitive Surgical in a report on Tuesday, August 19th. Citigroup reaffirmed a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Piper Sandler reiterated an "overweight" rating and issued a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Evercore ISI boosted their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Finally, BTIG Research boosted their price target on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Insider Buying and Selling

In other news, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction dated 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 $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $21,716,492 over the last three months. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Down 0.5%

Intuitive Surgical stock traded down $2.46 during mid-day trading on Tuesday, hitting $467.54. 1,479,152 shares of the company were exchanged, compared to its average volume of 2,020,071. The business has a fifty day moving average of $492.53 and a 200 day moving average of $511.22. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The company has a market capitalization of $167.60 billion, a PE ratio of 65.21, a price-to-earnings-growth ratio of 4.89 and a beta of 1.61.

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 (EPS) for the quarter, topping 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 firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. Research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share 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.