Marvin & Palmer Associates Inc. Lowers Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Marvin & Palmer Associates Inc. reduced its holdings in Intuitive Surgical (NASDAQ:ISRG) by 51.8% in the first quarter, now owning 5,644 shares worth approximately $2.8 million.
• Recent trades by insiders included Jami K. Nachtsheim selling 2,400 shares and Myriam Curet selling 4,500 shares, indicating a significant downsizing of their ownership.
• Intuitive Surgical's stock experienced a one-year range between $425.00 and $616.00, while the company reported a 21.4% increase in revenue year-over-year during its last earnings report.

Marvin & Palmer Associates Inc. decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 51.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,644 shares of the medical equipment provider's stock after selling 6,076 shares during the period. Intuitive Surgical accounts for about 4.2% of Marvin & Palmer Associates Inc.'s investment portfolio, making the stock its 20th biggest position. Marvin & Palmer Associates Inc.'s holdings in Intuitive Surgical were worth $2,795,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Chilton Capital Management LLC raised its stake in Intuitive Surgical by 614.3% in 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. Parvin Asset Management LLC bought a new position in Intuitive Surgical in the fourth quarter worth approximately $26,000. Global Financial Private Client LLC raised its stake 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 buying an additional 38 shares in the last quarter. Elite Financial Inc. bought a new position in Intuitive Surgical in the first quarter worth approximately $26,000. Finally, Hurley Capital LLC bought a new position in Intuitive Surgical in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of the company's 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 sale, the director directly owned 6,371 shares of the company's stock, valued at approximately $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 7,610 shares of company stock valued at $3,858,340. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $493.95 on Tuesday. The stock has a 50-day moving average of $528.51 and a two-hundred day moving average of $534.63. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock has a market cap of $177.07 billion, a P/E ratio of 68.89, a P/E/G ratio of 5.20 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm's revenue was up 21.4% compared to the same quarter last year. Analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analyst Ratings Changes

ISRG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Robert W. Baird reduced their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial upped their price target on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Evercore ISI upped their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $592.05.

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.