LPL Financial LLC Purchases 122,247 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• LPL Financial LLC increased its stake in Intuitive Surgical by 33.6%, owning 486,438 shares worth approximately $240.54 million after buying an additional 122,247 shares in the first quarter.
• Intuitive Surgical reported a earnings per share of $2.19 for the last quarter, exceeding expectations by $0.26, with revenues of $2.44 billion, reflecting a 21.4% year-over-year increase.
• Institutional investors own 83.64% of Intuitive Surgical's stock, indicating significant confidence among major investors in the company's growth and performance potential.

LPL Financial LLC boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 486,438 shares of the medical equipment provider's stock after purchasing an additional 122,247 shares during the quarter. LPL Financial LLC owned approximately 0.14% of Intuitive Surgical worth $240,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its position in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $26,000. Global Financial Private Client LLC boosted its position in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares during the last quarter. Elite Financial Inc. purchased a new position in Intuitive Surgical in the 1st quarter worth about $26,000. Finally, Hurley Capital LLC purchased a new position in Intuitive Surgical in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut shares of Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their price objective for the company from $515.00 to $440.00 in a report on Monday, June 9th. Wells Fargo & Company raised their price target on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. UBS Group upped their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI raised their price objective on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $592.05.

Intuitive Surgical Price Performance

Shares of ISRG stock traded down $1.91 during trading hours on Monday, hitting $493.95. The stock had a trading volume of 2,472,156 shares, compared to its average volume of 1,835,437. The stock has a market capitalization of $177.07 billion, a price-to-earnings ratio of 68.89, a PEG ratio of 5.20 and a beta of 1.64. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock's 50-day moving average price is $528.51 and its two-hundred day moving average price is $534.63.

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 analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion for 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 company's revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of Intuitive Surgical stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the transaction, the director directly owned 6,371 shares of the company's stock, valued at $3,312,920. This trade represents a 27.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president owned 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,610 shares of company stock valued at $3,858,340 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

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.