Picton Mahoney Asset Management Has $26.85 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Picton Mahoney Asset Management increased its stake in Intuitive Surgical by 18.3%, acquiring an additional 8,393 shares to reach a total of 54,218 shares.
• Institutional investors now own 83.64% of Intuitive Surgical, with notable increases from other funds including GAMMA Investing LLC, which raised its position by an astounding 54,010.7% during the same period.
• Analysts maintain a consensus rating of Moderate Buy for Intuitive Surgical, with price targets ranging from $571.00 to $650.00 post recent firm upgrades.

Picton Mahoney Asset Management raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,218 shares of the medical equipment provider's stock after acquiring an additional 8,393 shares during the quarter. Intuitive Surgical makes up 0.5% of Picton Mahoney Asset Management's investment portfolio, making the stock its 28th biggest holding. Picton Mahoney Asset Management's holdings in Intuitive Surgical were worth $26,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hurley Capital LLC purchased a new stake in Intuitive Surgical during the 4th quarter valued at approximately $28,000. Parvin Asset Management LLC purchased a new stake in Intuitive Surgical during the 4th quarter valued at approximately $26,000. Chilton Capital Management LLC raised its stake in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Global Financial Private Client LLC raised its stake in shares of Intuitive Surgical by 253.3% during the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares in the last quarter. Finally, Elite Financial Inc. purchased a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $26,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ISRG has been the subject of a number of analyst reports. BTIG Research increased their target price on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Evercore ISI increased their target price on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their target price on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Finally, Barclays cut their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $592.05.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG traded down $0.22 during midday trading on Friday, reaching $480.87. 1,723,607 shares of the company's stock were exchanged, compared to its average volume of 1,995,893. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market capitalization of $172.38 billion, a PE ratio of 66.99, a price-to-earnings-growth ratio of 5.25 and a beta of 1.64. The business's fifty day moving average price is $525.14 and its two-hundred day moving average price is $533.73.

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

Insider Activity

In related news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. The trade was a 19.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares of the company's stock, 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 15,903 shares of company stock worth $7,932,778 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical 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.