QRG Capital Management Inc. Has $33.07 Million Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• QRG Capital Management increased its stake in Intuitive Surgical by 9.5% in Q4 and now owns 58,382 shares valued at approximately $33.07 million.
• Intuitive beat expectations with quarterly EPS of $2.50 and revenue of $2.77 billion (up 23% year-over-year), while analysts maintain a consensus rating of "Moderate Buy" with a $581.91 average price target despite several recent target cuts.
• Institutional ownership is high at 83.64%, led by large holders like Vanguard and Capital World Investors, and insiders have sold modestly (5,906 shares over the past 90 days) representing about 0.60% insider ownership.

QRG Capital Management Inc. boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 9.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 58,382 shares of the medical equipment provider's stock after buying an additional 5,083 shares during the period. QRG Capital Management Inc.'s holdings in Intuitive Surgical were worth $33,065,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Intuitive Surgical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider's stock worth $15,026,776,000 after buying an additional 263,828 shares during the period. Capital World Investors raised its holdings in Intuitive Surgical by 1.5% during the 3rd quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider's stock worth $3,456,223,000 after buying an additional 116,034 shares during the period. Fisher Asset Management LLC grew its stake in shares of Intuitive Surgical by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock worth $1,739,475,000 after acquiring an additional 40,702 shares in the last quarter. Amundi raised its holdings in shares of Intuitive Surgical by 29.7% in the third quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock valued at $1,451,362,000 after purchasing an additional 739,444 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Intuitive Surgical by 11.1% in the fourth quarter. Jennison Associates LLC now owns 3,209,137 shares of the medical equipment provider's stock valued at $1,817,527,000 after purchasing an additional 321,759 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ISRG shares. BTIG Research reiterated a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Jefferies Financial Group lowered their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the company a "neutral" rating in a report on Monday, April 13th. Finally, Evercore lowered their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $581.91.

Insider Activity

In other news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the sale, the director owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 220 shares of the business's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 5,906 shares of company stock valued at $2,907,726. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Price Performance

ISRG stock opened at $452.35 on Tuesday. The company has a fifty day moving average price of $474.86 and a two-hundred day moving average price of $517.11. Intuitive Surgical, Inc. has a one year low of $427.84 and a one year high of $603.88. The stock has a market cap of $160.20 billion, a price-to-earnings ratio of 54.83, a price-to-earnings-growth ratio of 3.66 and a beta of 1.51.

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

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.

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