MGO One Seven LLC Sells 11,677 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• MGO One Seven cut its Intuitive Surgical stake by 65.2% in the third quarter, selling 11,677 shares and retaining 6,227 shares valued at about $2.53 million.
• Intuitive Surgical beat quarterly estimates, reporting $3.00 earnings per share and $3.05 billion in revenue; revenue rose 21.7% year over year.
• Company insiders sold 38,778 shares worth about $16.8 million over the past 90 days. Analysts’ consensus rating was “Moderate Buy,” with an average target price of $493.54.

MGO One Seven LLC trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 65.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,227 shares of the medical equipment provider's stock after selling 11,677 shares during the quarter. MGO One Seven LLC's holdings in Intuitive Surgical were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ISRG. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Intuitive Surgical by 2.1% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 4,808 shares of the medical equipment provider's stock valued at $1,955,000 after buying an additional 100 shares during the period. Greenup Street Wealth Management LLC boosted its stake in Intuitive Surgical by 1,108.9% during the third quarter. Greenup Street Wealth Management LLC now owns 6,927 shares of the medical equipment provider's stock valued at $2,817,000 after buying an additional 6,354 shares in the last quarter. State of Wyoming grew its holdings in Intuitive Surgical by 18.4% during the third quarter. State of Wyoming now owns 360 shares of the medical equipment provider's stock worth $146,000 after acquiring an additional 56 shares during the period. Petros Family Wealth LLC grew its holdings in Intuitive Surgical by 13.5% during the third quarter. Petros Family Wealth LLC now owns 2,617 shares of the medical equipment provider's stock worth $1,064,000 after acquiring an additional 312 shares during the period. Finally, Arta Finance Wealth Management LLC raised its position in Intuitive Surgical by 24.7% in the third quarter. Arta Finance Wealth Management LLC now owns 4,660 shares of the medical equipment provider's stock worth $1,895,000 after acquiring an additional 924 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity at Intuitive Surgical

In related news, Director Gary S. Guthart sold 20,095 shares of the business's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the completion of the transaction, the director owned 1,204,530 shares of the company's stock, valued at approximately $543,977,793.30. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 400 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the director owned 251 shares of the company's stock, valued at approximately $95,129. The trade was a 61.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 38,778 shares of company stock valued at $16,814,967. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $440.75 on Wednesday. The stock has a market capitalization of $152.78 billion, a P/E ratio of 53.30, a P/E/G ratio of 3.01 and a beta of 1.45. The business has a 50-day moving average of $404.05 and a two-hundred day moving average of $432.90. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the firm posted $2.40 EPS. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. As a group, research analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current fiscal year.

Analyst Ratings Changes

ISRG has been the subject of a number of research analyst reports. HSBC downgraded shares of Intuitive Surgical from a "buy" rating to a "hold" rating and set a $391.00 price target for the company. in a report on Thursday, July 30th. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Wednesday, October 21st. Stifel Nicolaus dropped their target price on shares of Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating on the stock in a report on Friday, July 17th. BTIG Research reissued a "buy" rating and set a $454.00 target price on shares of Intuitive Surgical in a research note on Wednesday, October 21st. Finally, Raymond James Financial restated an "outperform" rating and set a $480.00 target price on shares of Intuitive Surgical in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $493.54.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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