Paloma Partners Management Co Takes Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Paloma Partners Management Co has acquired a new position in Intuitive Surgical, purchasing 2,888 shares valued at approximately $1.43 million.
• Intuitive Surgical's stock has seen significant interest from institutional investors, with 83.64% of its shares owned by such entities, including notable increases from firms like Chilton Capital Management and Global Financial Private Client.
• The company reported earnings of $2.19 per share for the quarter, exceeding analysts' expectations, with a revenue increase of 21.4% year-over-year, indicating strong financial performance.

Paloma Partners Management Co bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,888 shares of the medical equipment provider's stock, valued at approximately $1,430,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC boosted its position in shares of Intuitive Surgical by 75.8% in the first quarter. Focus Partners Advisor Solutions LLC now owns 3,777 shares of the medical equipment provider's stock valued at $1,871,000 after acquiring an additional 1,629 shares during the period. First Financial Bankshares Inc boosted its position in shares of Intuitive Surgical by 5.4% in the first quarter. First Financial Bankshares Inc now owns 6,616 shares of the medical equipment provider's stock valued at $3,277,000 after acquiring an additional 336 shares during the period. One Wealth Capital Management LLC boosted its position in shares of Intuitive Surgical by 12.3% in the first quarter. One Wealth Capital Management LLC now owns 548 shares of the medical equipment provider's stock valued at $271,000 after acquiring an additional 60 shares during the period. Flputnam Investment Management Co. boosted its position in shares of Intuitive Surgical by 14.7% in the first quarter. Flputnam Investment Management Co. now owns 13,035 shares of the medical equipment provider's stock valued at $6,456,000 after acquiring an additional 1,670 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Intuitive Surgical by 11.7% in the first quarter. Royal Bank of Canada now owns 1,620,790 shares of the medical equipment provider's stock valued at $802,731,000 after acquiring an additional 170,229 shares during the period. Institutional investors own 83.64% of the company's stock.

Insider Activity at Intuitive Surgical

In other news, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Brosius sold 216 shares of the business's stock in a transaction on 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 approximately $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,769 shares of company stock worth $21,532,536 over the last quarter. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ISRG. Piper Sandler restated an "overweight" rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Truist Financial raised their target price on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI raised their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded up $13.34 during trading hours on Thursday, hitting $454.52. The company had a trading volume of 3,938,868 shares, compared to its average volume of 2,020,191. The company has a market capitalization of $162.93 billion, a PE ratio of 63.39, a price-to-earnings-growth ratio of 4.96 and a beta of 1.61. The stock has a 50-day moving average price of $496.93 and a 200 day moving average price of $515.29. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00.

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

Intuitive Surgical Company Profile

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.