Phoenix Financial Ltd. Boosts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Phoenix Financial Ltd. increased its stake in Intuitive Surgical, Inc. by 13.7%, owning a total of 14,260 shares valued at approximately $7.07 million as of the last quarter.
• Intuitive Surgical recently reported Q2 earnings per share (EPS) of $2.19, exceeding analysts' expectations of $1.93 and marking a 21.4% year-over-year revenue growth.
• Multiple analysts have raised their price targets for Intuitive Surgical, with estimates ranging from $550 to $650, reflecting a general consensus of a Moderate Buy rating.

Phoenix Financial Ltd. grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 13.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,260 shares of the medical equipment provider's stock after purchasing an additional 1,720 shares during the quarter. Phoenix Financial Ltd.'s holdings in Intuitive Surgical were worth $7,068,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Chilton Capital Management LLC lifted its stake in shares of 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 acquiring an additional 43 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $26,000. Global Financial Private Client LLC lifted its stake in shares of 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 acquiring an additional 38 shares during the period. Elite Financial Inc. acquired a new position in shares of Intuitive Surgical in the first quarter worth approximately $26,000. Finally, Hurley Capital LLC acquired a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $28,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG traded up $6.66 during midday trading on Tuesday, hitting $500.61. 935,070 shares of the stock traded hands, compared to its average volume of 1,989,441. The company has a market cap of $179.46 billion, a PE ratio of 69.75, a P/E/G ratio of 5.20 and a beta of 1.64. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The business has a 50 day moving average price of $528.51 and a two-hundred day moving average price of $534.63.

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

Insider Activity at Intuitive Surgical

In related news, Director Jami K. Nachtsheim sold 2,400 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the transaction, the director owned 6,371 shares of the company's stock, valued at $3,312,920. The trade was a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 7,610 shares of company stock valued at $3,858,340 over the last 90 days. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

ISRG has been the topic of a number of recent analyst reports. BTIG Research lifted their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. UBS Group lifted their target price on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI lifted their target price on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus 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.