Leonteq Securities AG Makes New Investment in Intuitive Surgical, Inc. $ISRG

Key Points

• Leonteq Securities AG opened a new position in Intuitive Surgical (NASDAQ: ISRG), buying 6,526 shares worth about $3.7 million in the fourth quarter.
• Institutional interest remains high, with several other funds increasing their stakes and about 83.64% of the stock now held by hedge funds and other institutional investors.
• Intuitive Surgical reported better-than-expected quarterly results, including EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, while analysts maintain a Moderate Buy consensus with a $579.33 average price target.

Leonteq Securities AG bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,526 shares of the medical equipment provider's stock, valued at approximately $3,696,000.

Several other institutional investors also recently made changes to their positions in ISRG. Brighton Jones LLC boosted its position in shares of 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 purchasing an additional 731 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 34 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Intuitive Surgical during the 2nd quarter worth $200,000. Finally, Main Street Financial Solutions LLC boosted its position in shares of Intuitive Surgical by 92.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after purchasing an additional 1,407 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares of the company's stock, valued at approximately $2,735,334. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the transaction, the senior vice president directly owned 3,554 shares of the company's stock, valued at $1,772,308.72. The trade was a 39.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,683 shares of company stock worth $2,775,891 in the last ninety days. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ISRG. Robert W. Baird boosted their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Piper Sandler decreased their price objective on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research report on Monday, April 13th. Citigroup upgraded shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective on the stock in a research report on Wednesday, March 11th. Finally, BTIG Research reiterated a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $579.33.

Intuitive Surgical Stock Up 1.7%

Intuitive Surgical stock opened at $449.03 on Thursday. Intuitive Surgical, Inc. has a 52 week low of $417.74 and a 52 week high of $603.88. The firm's 50-day simple moving average is $460.63 and its 200 day simple moving average is $511.79. The firm has a market capitalization of $159.03 billion, a PE ratio of 54.43, a P/E/G ratio of 3.53 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 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $1.81 EPS. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Intuitive Surgical Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.