Mariner LLC Grows Stock Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Mariner LLC boosted its Intuitive Surgical stake by 31.7% in the fourth quarter, buying 31,784 additional shares and ending with 132,129 shares valued at about $74.9 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates by $0.42 and revenue rising 23% year over year to $2.77 billion.
• Analysts remain mostly bullish despite some lowered targets; the stock has a consensus rating of “Moderate Buy” with an average price target of $571.28, while insiders have also been selling shares recently.

Mariner LLC increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,129 shares of the medical equipment provider's stock after buying an additional 31,784 shares during the quarter. Mariner LLC's holdings in Intuitive Surgical were worth $74,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Draper Asset Management LLC grew its holdings in shares of Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock worth $2,848,000 after buying an additional 1,485 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock worth $862,108,000 after buying an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock valued at $40,255,000 after purchasing an additional 16,119 shares in the last quarter. Procyon Advisors LLC boosted its holdings in Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock valued at $2,715,000 after purchasing an additional 4,254 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Intuitive Surgical by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider's stock valued at $15,026,776,000 after purchasing an additional 263,828 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Trading Up 1.3%

ISRG stock opened at $416.55 on Tuesday. The firm has a 50 day moving average of $442.17 and a 200-day moving average of $494.54. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88. The company has a market cap of $147.53 billion, a price-to-earnings ratio of 50.49, a PEG ratio of 3.28 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the firm earned $1.81 EPS. The company's revenue for the quarter was up 23.0% on a year-over-year basis. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director owned 120 shares of the company's stock, valued at approximately $55,620. The trade was a 49.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ISRG shares. TD Cowen lowered their price objective on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. Barclays set a $651.00 price objective on Intuitive Surgical and gave the company an "overweight" rating in a report on Thursday, April 23rd. Truist Financial lowered their price objective on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. HSBC lowered their price objective on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. Finally, BofA lowered their price objective on Intuitive Surgical from $520.00 to $515.00 in a report on Friday. Nineteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $571.28.

Intuitive Surgical Company 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.

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