North Star Asset Management Inc. Acquires New Shares in Intuitive Surgical, Inc. $ISRG

Key Points

• North Star Asset Management acquired 23,779 shares of Intuitive Surgical in the second quarter, valued at approximately $9.46 million. Institutional investors collectively own 83.64% of the company.
• Analyst sentiment remains positive overall, with 22 Buy ratings, eight Holds and one Sell rating, resulting in a “Moderate Buy” consensus and an average price target of $508.68.
• Intuitive Surgical reported quarterly earnings of $2.80 per share, beating estimates of $2.48, while revenue rose 18.4% year over year to $2.89 billion. Shares opened at $367.07, well below their 12-month high of $603.88.

North Star Asset Management Inc. acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 23,779 shares of the medical equipment provider's stock, valued at approximately $9,456,000.

A number of other hedge funds have also bought and sold shares of ISRG. Main Street Group LTD purchased a new stake in shares of Intuitive Surgical during the 1st quarter valued at about $30,000. Compass Financial Management LLC purchased a new position in shares of Intuitive Surgical during the second quarter valued at approximately $30,000. Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical during the fourth quarter valued at approximately $31,000. Vermillion Wealth Management Inc. lifted its position in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock valued at $31,000 after purchasing an additional 25 shares during the period. Finally, Turning Point Benefit Group Inc. boosted its holdings in Intuitive Surgical by 833.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 50 shares during the last quarter. 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 a number of research analyst reports. BNP Paribas Exane raised shares of Intuitive Surgical to an "outperform" rating in a research report on Tuesday, July 28th. Leerink Partners lowered their price target on Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. UBS Group assumed coverage on Intuitive Surgical in a research note on Tuesday, July 28th. They issued a "neutral" rating and a $500.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a report on Tuesday, June 2nd. Finally, KeyCorp reiterated an "overweight" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $508.68.

Intuitive Surgical Trading Down 0.9%

Shares of ISRG stock opened at $367.07 on Friday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a market cap of $129.68 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.68 and a beta of 1.46. The company has a 50 day simple moving average of $385.28 and a two-hundred day simple moving average of $433.18.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter last year, the company posted $1.81 EPS. The company's revenue was up 18.4% compared to the same quarter last year. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, Director Gary S. Guthart sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the director owned 1,245,679 shares of the company's stock, valued at approximately $498,271,600. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the sale, the executive vice president owned 5,320 shares of the company's stock, valued at approximately $2,016,280. The trade was a 6.99% 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. Insiders sold 17,283 shares of company stock worth $7,015,429 in the last quarter. Company insiders own 0.60% of the company's stock.

About Intuitive Surgical

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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