Prescott Group Capital Management L.L.C. Acquires Shares of 546 Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Prescott Group Capital Management purchased a new stake in Intuitive Surgical, Inc., acquiring 546 shares valued at approximately $270,000 in the first quarter.
• Insider selling activity included Mark Brosius and Jami K. Nachtsheim, who decreased their respective stock holdings by 19.23% and 27.36% after selling shares totaling over $1.36 million.
• Analysts have adjusted price targets for Intuitive Surgical, with Citigroup raising its price objective from $590.00 to $650.00, maintaining a "buy" rating, reflecting a consensus rating of "Moderate Buy" with a price target of $592.05.

Prescott Group Capital Management L.L.C. purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 546 shares of the medical equipment provider's stock, valued at approximately $270,000.

Other hedge funds also recently bought and sold shares of 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 valued at $25,000 after buying an additional 43 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $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 valued at $26,000 after buying an additional 38 shares during the period. Elite Financial Inc. bought a new stake in shares of Intuitive Surgical in the first quarter valued at about $26,000. Finally, Hurley Capital LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $28,000. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the sale, the director owned 6,371 shares of the company's stock, valued at $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,610 shares of company stock valued at $3,858,340 over the last quarter. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating and issued a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. UBS Group increased their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays dropped their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their price target for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price target on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuitive Surgical 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 up $6.49 during mid-day trading on Tuesday, hitting $500.44. 935,070 shares of the stock were exchanged, compared to its average volume of 1,989,441. The company has a market cap of $179.40 billion, a P/E ratio of 69.75, a PEG ratio of 5.20 and a beta of 1.64. The stock's fifty day simple moving average is $528.51 and its two-hundred day simple moving average is $534.63. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00.

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

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.