Lecap Asset Management Ltd. Trims Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Lecap Asset Management Ltd. significantly reduced its holdings in Intuitive Surgical, Inc. by 75.5%, selling 2,712 shares and leaving it with only 880 shares valued at $478,000.
• Despite Lecap's sell-off, other investors like ASR Vermogensbeheer N.V. and Warren Street Wealth Advisors LLC increased their stakes, indicating continued interest in the stock.
• Intuitive Surgical reported $2.19 earnings per share for the last quarter, surpassing analysts' expectations and reflecting a 21.4% year-over-year revenue growth to $2.44 billion.

Lecap Asset Management Ltd. decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 75.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 880 shares of the medical equipment provider's stock after selling 2,712 shares during the period. Lecap Asset Management Ltd.'s holdings in Intuitive Surgical were worth $478,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ISRG. ASR Vermogensbeheer N.V. raised its position in Intuitive Surgical by 16.0% in the second quarter. ASR Vermogensbeheer N.V. now owns 28,379 shares of the medical equipment provider's stock valued at $15,421,000 after purchasing an additional 3,909 shares during the period. Platinum Investment Management Ltd. acquired a new position in Intuitive Surgical in the second quarter valued at about $211,000. EWA LLC boosted its stake in Intuitive Surgical by 7.9% during the second quarter. EWA LLC now owns 667 shares of the medical equipment provider's stock worth $362,000 after buying an additional 49 shares during the period. McGuire Investment Group LLC boosted its stake in Intuitive Surgical by 2.7% during the second quarter. McGuire Investment Group LLC now owns 24,081 shares of the medical equipment provider's stock worth $13,086,000 after buying an additional 635 shares during the period. Finally, Warren Street Wealth Advisors LLC increased its position in shares of Intuitive Surgical by 20.2% during the second quarter. Warren Street Wealth Advisors LLC now owns 553 shares of the medical equipment provider's stock valued at $301,000 after acquiring an additional 93 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

ISRG opened at $443.01 on Friday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company has a market cap of $158.81 billion, a P/E ratio of 61.79, a PEG ratio of 4.59 and a beta of 1.61. The business's 50-day simple moving average is $464.42 and its 200-day simple moving average is $500.22.

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, topping analysts' consensus estimates of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. As a group, analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of research analyst reports. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Piper Sandler reissued an "overweight" rating and issued a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. BTIG Research reaffirmed a "buy" rating and set a $571.00 target price on shares of Intuitive Surgical in a research note on Wednesday. Finally, UBS Group increased their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $594.19.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at approximately $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock valued at $21,716,492 over the last quarter. 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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