QRG Capital Management Inc. Has $38.13 Million Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• QRG Capital Management increased its Intuitive Surgical stake by 34% in the second quarter, bringing its holdings to 95,883 shares valued at approximately $38.13 million. Institutional investors collectively own 83.64% of ISRG.
• Intuitive Surgical insiders sold 12,370 shares worth about $4.9 million over the past 90 days, including sales by EVP Gary Loeb and Director Gary Guthart under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with 22 Buy ratings and a consensus “Moderate Buy” rating, despite recent price-target cuts. The company also exceeded quarterly expectations, reporting $2.80 in EPS and $2.89 billion in revenue, up 18.4% year over year.

QRG Capital Management Inc. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 34.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,883 shares of the medical equipment provider's stock after acquiring an additional 24,352 shares during the period. QRG Capital Management Inc.'s holdings in Intuitive Surgical were worth $38,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ISRG. Norges Bank acquired a new position in Intuitive Surgical during the 4th quarter worth approximately $2,856,987,000. Bank of New York Mellon Corp acquired a new stake in Intuitive Surgical in the second quarter valued at approximately $1,335,753,000. J. Stern & Co. LLP boosted its position in Intuitive Surgical by 18,504.6% in the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider's stock valued at $1,204,788,000 after buying an additional 2,115,814 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Intuitive Surgical by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock worth $970,635,000 after buying an additional 1,027,475 shares during the last quarter. Finally, Polen Capital Management LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth $477,225,000. 83.64% of the stock is currently owned by institutional investors.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the executive vice president directly owned 5,320 shares of the company's stock, valued at approximately $2,016,280. This represents a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary Guthart sold 10,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the sale, the director owned 1,245,679 shares of the company's stock, valued at approximately $498,271,600. This trade represents a 0.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 12,370 shares of company stock worth $4,891,989. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ISRG. Stifel Nicolaus dropped their price target on Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating for the company in a research note on Friday, July 17th. UBS Group started coverage on Intuitive Surgical in a research report on Tuesday, July 28th. They set a "neutral" rating and a $500.00 price objective on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $487.00 target price (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Intuitive Surgical in a research report on Friday, August 21st. Finally, Leerink Partners cut their price target on Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Twenty-two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $508.68.

Intuitive Surgical Stock Performance

Shares of ISRG traded down $3.79 during mid-day trading on Wednesday, reaching $398.30. 1,686,001 shares of the company were exchanged, compared to its average volume of 2,453,334. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock has a market capitalization of $140.71 billion, a PE ratio of 45.62, a PEG ratio of 3.03 and a beta of 1.47. The business has a 50 day simple moving average of $373.03 and a two-hundred day simple moving average of $417.79.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The firm's revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 earnings per share. On average, analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc is a medical technology company that develops and manufactures robotic-assisted surgical systems and related products. Its technology is designed to support surgeons during minimally invasive procedures by providing enhanced visualization, instrument control and dexterity.

The company's principal product is the da Vinci Surgical System, which is used across a range of specialties, including general surgery, urology, gynecology, cardiothoracic surgery and other procedures.

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