Peregrine Capital Management LLC Sells 6,561 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Peregrine Capital Management cut its stake in Intuitive Surgical by 6.2% in Q1, selling 6,561 shares and leaving it with 99,739 shares valued at about $45.98 million.
• Insider selling continued, with Director Amy L. Ladd and SVP Iman Jeddi both reducing their holdings under pre-arranged 10b5-1 plans; insiders sold 7,169 shares worth about $3.06 million over the last three months.
• Intuitive Surgical recently beat quarterly earnings expectations, reporting $2.50 EPS on $2.77 billion in revenue, while analysts still see the stock as a Moderate Buy with an average target price of $573.42.

Peregrine Capital Management LLC lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 99,739 shares of the medical equipment provider's stock after selling 6,561 shares during the period. Intuitive Surgical comprises about 1.7% of Peregrine Capital Management LLC's portfolio, making the stock its 9th largest holding. Peregrine Capital Management LLC's holdings in Intuitive Surgical were worth $45,979,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ISRG. Draper Asset Management LLC grew its holdings in Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock valued at $2,848,000 after purchasing an additional 1,485 shares during the period. Deutsche Bank AG increased its position in shares of Intuitive Surgical by 9.6% in the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock valued at $862,108,000 after buying an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock worth $40,255,000 after buying an additional 16,119 shares during the period. Procyon Advisors LLC raised its stake in shares of Intuitive Surgical by 787.8% during the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock worth $2,715,000 after buying an additional 4,254 shares during the period. Finally, Robinhood Asset Management LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at approximately $6,478,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Activity

In other news, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director directly owned 120 shares of the company's stock, valued at approximately $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 over the last three months. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $397.68 on Wednesday. Intuitive Surgical, Inc. has a one year low of $396.68 and a one year high of $603.88. The stock has a market capitalization of $140.84 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 3.30 and a beta of 1.46. The stock has a 50 day moving average price of $430.20 and a 200 day moving average price of $481.84.

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

Wall Street Analysts Forecast Growth

ISRG has been the topic of a number of research analyst reports. TD Cowen dropped their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Leerink Partners reduced their price objective on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. BTIG Research reaffirmed a "buy" rating and set a $574.00 price objective on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Piper Sandler reiterated an "overweight" rating and issued a $580.00 target price on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Finally, UBS Group cut their target price on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $573.42.

Intuitive Surgical 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.