Quantitative Investment Management LLC Raises Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Quantitative Investment Management increased its Intuitive Surgical stake by 474.2% in the second quarter, bringing its holdings to 32,943 shares valued at approximately $13.1 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly EPS of $2.80, exceeding estimates of $2.48, while revenue rose 18.4% year over year to $2.89 billion. Shares opened at $372.60, well below their 52-week high of $603.88.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $508.68, although recent insider sales and mixed analyst actions add caution.

Quantitative Investment Management LLC raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 474.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,943 shares of the medical equipment provider's stock after buying an additional 27,206 shares during the quarter. Intuitive Surgical comprises 1.4% of Quantitative Investment Management LLC's investment portfolio, making the stock its 9th largest holding. Quantitative Investment Management LLC's holdings in Intuitive Surgical were worth $13,100,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ISRG. New Mexico Educational Retirement Board grew its stake in shares of Intuitive Surgical by 4.8% in the second quarter. New Mexico Educational Retirement Board now owns 17,642 shares of the medical equipment provider's stock worth $7,016,000 after acquiring an additional 800 shares during the last quarter. Mufg Securities Americas Inc. increased its position in Intuitive Surgical by 8.5% during the second quarter. Mufg Securities Americas Inc. now owns 10,667 shares of the medical equipment provider's stock worth $4,242,000 after acquiring an additional 840 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in Intuitive Surgical by 2.5% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 1,047 shares of the medical equipment provider's stock valued at $416,000 after purchasing an additional 26 shares during the last quarter. Field & Main Bank acquired a new position in Intuitive Surgical during the 2nd quarter valued at $1,533,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Intuitive Surgical in the 2nd quarter valued at $35,000. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $372.60 on Monday. The firm has a market capitalization of $131.63 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 2.69 and a beta of 1.47. The company's fifty day moving average price is $384.60 and its two-hundred day moving average price is $432.33. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the firm earned $1.81 EPS. The firm's revenue for the quarter was up 18.4% compared to the same quarter last year. Analysts predict that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 400 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the director directly owned 251 shares of the company's stock, valued at approximately $95,129. This represents a 61.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the transaction, the executive vice president directly owned 881 shares of the company's stock, valued at approximately $330,877.17. The trade was a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,658 shares of company stock worth $4,649,835 in the last three months. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ISRG. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a research report on Tuesday, June 2nd. KeyCorp reissued an "overweight" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Wall Street Zen lowered Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Oppenheimer raised Intuitive Surgical from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a report on Wednesday, August 12th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and an average price target of $508.68.

About Intuitive Surgical

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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